Anchorage, Alaska-based Global Federal Credit Union has completed its acquisition of Renton, Washington-based First Financial Northwest Inc., the parent company of First Financial Northwest Bank.

The roughly $230 million acquisition was agreed upon by the organizations in January 2024.

Until system and brand integrations are completed later this year, Global will operate the bank locations as a separately branded division named First Financial Northwest Operated by Global Federal Credit Union, according to a press release.

Global’s Chief Strategy Officer Jason Sasena has been named acting president of the division.

As part of the agreement that closed late last week, Global acquired “substantially all assets and assumed substantially all liabilities” of First Financial, the release states.

The acquisition will expand Global’s business and commercial services to all its member businesses and will bring full access to Global’s product and service offerings to former First Financial customers.

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.

Global has eight locations in the Spokane-Coeur d’Alene area.