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CU System
CEFCU to acquire Californias Valley CU
SAN JOSE, Calif. (1/2/09)--Citizens Equity First CU (CEFCU), Peoria, Ill., was slated to acquire Valley CU, San Jose, Calif., Wednesday. CEFCU will acquire Valley’s three branches and 30,000 accounts in the deal. Valley will keep its name and is set to open today as Valley CU, a Division of CEFCU (Silicon Valley/San Jose Business Journal Dec. 30). Valley plans to retain 90% of its staff (KLIV.com). The $257-million-asset Valley CU was placed into conservatorship Sept. 3 by the National Credit Union Administration. CEFCU has $3.635 billion in assets.


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