Anchorage, Alaska-based Global Federal Credit Union, which has eight locations in the Spokane-Coeur d'Alene area, expects to complete its acquisition of Renton, Washington-based First Financial Northwest Inc., the parent company of First Financial Northwest Bank, on April 11, according to a press release from Global.

The $231.2 million acquisition was agreed upon by the companies in January 2024.

Following the acquisition, First Financial Northwest will distribute its remaining net assets, including the remaining net cash proceeds from the purchase price paid by Global in the asset sale, to the First Financial Northwest shareholders. The company will then dissolve.

Global will operate the First Financial Northwest Bank locations as a separately branded division until the system and brand integration is completed later this year.

Previously based in Spokane, Global Credit Union merged with Alaska USA Federal Credit Union in 2022 and rebranded to its current name. It has over 70 branches across Washington, Idaho, Alaska, California, and Arizona, as well as branches on three U.S. military installations across Italy.