Saturday, July 18, 2020

Merge Will Create $6 Billion CU

Kinecta Federal Credit Union (Manhattan Beach, CA) and Xceed Financial Credit Union (El Segundo, CA) on July 16 announced that the two credit unions have reached a tentative agreement to merge.

The combined credit union will operate under the Kinecta Federal Credit Union name and charter and will have approximately $6 billion in assets, 300,000 members and 33 locations. It will be the nation’s 35th largest credit union, and California’s eighth largest in terms of asset size.

The merger requires approval by regulatory authorities and Xceed’s membership.

The merger is planned to be completed before the end of the first quarter of 2021.

Read more.
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