Tuesday, January 22, 2019

Two Large Educational CUs Will Merge to Create $17 Billion CU

Two large California credit unions serving the educational community to merge creating a $17 billion credit union.

SchoolsFirst Federal Credit Union (Santa Ana, CA) and Schools Financial Credit Union (Sacramento, CA) on January 22 announced that the two credit unions have reached a tentative agreement to merge.

SchoolFirst FCU has more than $15.2 billion in assets and 50 branches. SchoolFirst has a field of membership serving the educational community throughout California.

Schools Financial CU has $1.9 billion in assets and 11 branches.

The merger will require the approval of School Finacial's members and regulators. If approved, the merger is expected to close before the end of this year.

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