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CU System
CU of So. Calif. Inland Empire CU plan merger
WHITTIER and POMONA, Calif. (5/25/11)--Credit Union of Southern Calif. (CU SoCal), Whittier, Calif., and Inland Empire CU (IECU), Pomona, Calif., Monday announced plans to merge after the boards of both credit unions filed for regulatory approval to do so. The merger would create a combined organization--retaining the CU SoCal name--with $642 million in assets, eight branches and 19 proprietary ATMs, which would serve 50,000 members, said a press release. Dave Gunderson, CU SoCal president/CEO, would become president/CEO of the combined credit union. Rick Hoffman, IECU president/CEO, would assume the role of vice president of legislative affairs and business development with the new organization. All branches of both credit unions would stay open, and all employees of CU SoCal and IECU would remain employed after completion of the merger. Although both credit unions are financially strong and performing well, a combined organization will engender a stronger commitment to the area community and provide additional opportunities for employees, Gunderson said.


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