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CU System
California DFI announces approval of five mergers
SACRAMENTO, Calif. (6/9/08)--California Commissioner of Financial Institutions William S. Haraf announced the state credit union regulator has approved five mergers of credit unions in the state. Approvals were for:
* Monterey Columbia FCU, Monterey, merging with and into Monterey County Employees CU, Salinas, effected May 31. * First Future CU, San Diego, merging with and into California Coast CU, San Diego, approved May 1. * Church/Co-op CU, Sacramento, merging with and into The Golden 1 CU, Sacramento, approved April 29. * California Preferred CU, San Francisco, merging with and into Redwood CU, Santa Rose, approved Feb. 5. A press release from Redwood noted the merger was effective June 1. The combined credit union will serve nearly 143,000 members with total assets of nearly $1.8 billion. * Arrow CU, San Leandro, merging with and into Spectrum FCU, San Franciso, approved April 7.


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