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News Now

CU System
Latest mergers in Kansas Calif. Wash.
MADISON, Wis. (7/13/11)--Three more mergers of U.S. credit unions--one each in Kansas, Washington and California--have been announced and are pending. Among the pending mergers:
* CU of America (CUA) and First Choice CU, both in Wichita, Kan., intend to complete a merger by the end of 2011 or the beginning of 2012 (The Wichita Eagle July 12). The merger will create a $450 million asset credit union with 47,000 members, under the name of CUA. First Choice has three branches, plus a high school student branch. CUA has nine full-service branches in three cities, plus an employee-only branch at a hospital and a high school student branch. * Catholic CU and Yakima Valley CU (YVCU), both of Yakima, Wash., received approval of their merger application from the Washington Department of Financial Institutions and the National Credit Union Administration (Yakima Herald-Republic Online News July 7). YVCU members will next vote on the merger, since YVCU will merge into Catholic CU. The combined credit union will have $471 million in assets and nearly 50,000 members, with eight full-service branches. A new name and brand will be designed once the merger is complete. * 1st Choice FCU, Castro Valley, Calif., received approval June 2 to merge with and into SF Police CU, San Francisco, said the California Department of Financial Institutions. 1st Choice CU has $8.1 million in assets and two branches--one in Castro Valley and one in San Leandro. The $634.5 million asset SF Police CU has four branches: two in San Francisco, one in San Mateo and one in Pleasanton.


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