LONGMONT, Colo. and BOULDER, Colo. (7/25/11)--St. Vrain Valley CU, Longmont, Colo., and Elevations CU, Boulder, Colo., Thursday signed a letter of intent to merge, resulting in a local financial institution with roots in both Longmont and Boulder. The merger is subject to a “yes” vote by the members of the $81.3 million asset St. Vrain Valley CU. The merger also requires approval by the National Credit Union Administration (NCUA) and the State of Colorado, Division of Financial Services. If approved, the merger would take effect Oct. 1. Each credit union would operate separately until integration of the two organizations, which would require several months, is complete. The merger would mean added convenience for both memberships, with a total of 11 branches from Loveland to Westminster, and access to additional products and services. The $968.2 million asset Elevations CU began in 1952 serving faculty and staff of the University of Colorado-Boulder. St. Vrain Valley CU opened in 1954 to serve the St. Vrain Valley School District. Once the merger is approved, the organizations would operate under the Elevations name, with Gerry Agnes continuing as president/CEO. Eva Gaudio will join Elevations’ senior executive team, and two St. Vrain board members will sit on the combined board of directors. Full integration of the two operations would take place during the spring of 2012.