Wednesday, March 1, 2017

Merger Creates $2.8 Billion Credit Union

California Credit Union (Glendale, CA) and North Island Credit Union (San Diego, CA) announced that their merger has received regulatory approval as well as approval by a majority vote of North Island's membership.

California Credit Union has 13 branches throughout the Los Angeles area with more than 86,000 members and assets of nearly $1.4 billion.

North Island Credit Union has $1.3 billion in assets, 11 branches and 75,000 members.

The combined organization will hold $2.8 billion in assets and will serve 165,000 members with 24 branches across Los Angeles and San Diego counties, will take on the California Credit Union name and charter as the continuing credit union.

Credit union operations in San Diego County will retain the North Island name, operating as a division of California Credit Union.

The merger became effective on March 1, 2017.

Read the press release.

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