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News Now

CU System
Community Trust Self-Help CUs merge
MODESTO, Calif. (6/24/09)--Community Trust CU, Modesto, Calif., has merged with Self-Help FCU, Durham, N.C. The two credit unions said the move was a proactive step to take advantage of each of their relative strengths (Modesto Bee June 23). By partnering with Self-Help, Community Trust will be able to expand its services to members and increase its positive impact on the Modesto-area community, Joe Duran, Community Trust’s CEO, told the newspaper. The merger with Self-Help will inject money into Community Trust’s balance sheets, tripling Community’s Trust’s net capital, Duran added. The merger was approved earlier this year by federal and state regulatory agencies, and Community Trust’s membership, the paper said. Community Trust has $42 million in assets. Self-Help, based in Durham, N.C., has $333.4 million assets.


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