Stinson Attorneys Represent Cache Bank & Trust in Acquisition by Elevations Credit Union
Stinson LLP served as legal counsel to Greeley, Colorado-based Cache Bank & Trust in a purchase and assumption transaction where Elevations Credit Union (ECU) has agreed, subject to regulatory approvals and other normal closing conditions, to acquire the assets and assume certain of the liabilities of Cache. ECU has agreed to assume all deposit liabilities and to acquire all loans of Cache. ECU and Cache anticipate the acquisition will be closed in the first quarter of 2020, with a full integration of the two operations in the third quarter of 2020.
The acquisition allows ECU to expand its commercial lending, business banking, consumer banking and mortgage capabilities in both Larimer and Weld counties in Colorado. This would mark the first credit union acquisition of a community bank in Colorado.