DCU's Gold Star Blvd. branch in Worcester is shown in this undated handout photo. Photo courtesy of DCU

Marlborough’s Digital Federal Credit Union, better known as DCU, announced Monday it plans to join with California-based First Tech Federal Credit Union in a merger of equals.

Both the DCU and the First Tech boards of directors unanimously agreed to the merger, which is expected to close in 2025.

Following completion of the merger, which is subject to approval from the National Credit Union Administration (NCUA) and First Tech’s membership, the new entity will emerge as a $28.7 billion credit union serving nearly 2 million members with more than 50 branches and a presence in all 50 states.

DCU is the largest credit union in Massachusetts and First Tech, headquartered in San Jose, is the largest credit union in the San Francisco Bay Area. And both credit unions have their origins in the tech industry: DCU as an employee benefit for the now-defunct Digital Equipment Corp. during the first Massachusetts tech boom, and First Tech today serving employees at household names like Microsoft, Google, Intel, Nike and Amazon.

Upon completion of the core integration, the combined organization will operate under DCU’s charter and the First Tech Federal Credit Union name. First Tech President and CEO Greg Mitchell will remain with First Tech through the integration while DCU President and CEO Shruti Miyashiro will become president and CEO of the newly combined credit union.

“Our credit unions have a shared origin – each created to serve the financial needs of technology employees, their families and digitally savvy members across the country,” Miyashiro said in a statement. “The transformative power of this merger of equals will unlock enormous potential to deliver value and opportunity for the people who matter most – our members, our employees and the communities we serve.”