On November 1, 2026, GECU Federal Credit Union (“GECU”), El Paso, Texas, completed its purchase of substantially all the assets and assumption of substantially all the liabilities of Bank of the Southwest, Roswell, New Mexico, the wholly-owned subsidiary of New Mexico National Financial Incorporated. Following the completion of the transaction, GECU has approximately $4.9 billion in assets and serves nearly 450,000 members through 41 service locations in Texas and New Mexico.

Luse Gorman served as legal counsel to GECU in the transaction.  The Luse Gorman team consisted of Jeff Cardone, Ellie Cook, Michael Brown, Brendan Saxon, Keeler Fina and Trevor Kline.

Luse Gorman has acted as counsel on more than 150 bank and credit union merger transactions during the past ten years and on more bank and credit union merger transactions than any other law firm in the nation over the past 20 years. To learn more about our credit union services and mergers and acquisitions practice, please visit our website.