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Small CU to merge with CBC FCU
OXNARD, Calif. (11/5/10)--CBC FCU in Oxnard, Calif., announced it will merge with the small Civic Arts Plaza FCU in Thousand Oaks, Calif. The boards of the $349 million-asset CBC FCU and the $11 million asset Civic Arts Plaza FCU agreed to a deal Oct. 27 that will be completed Dec.1 (Ventura County Star Nov. 4). The merger is confirmed on CBC FCU’s website. Civic Arts Plaza FCU will become a branch of CBC FCU in east Ventura County, Kelly Baker, CBC vice president of business development, told the newspaper. CBC sought the merger at a time when small credit unions are struggling with rising loan delinquencies and assessments, Baker said. “It was just a good fit for us to expand our branches,” she told the paper.


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