National 1st Credit Union has agreed to acquire San Jose Credit Union.
The $210-million National 1st, chartered in 1968 for National Semiconductor employees, will be the surviving credit union and will be run by Andrea Brewer, San Jose Credit Union's president.
San Jose Credit Union was chartered in 1932 to serve employees of the city San Jose. The credit union lost $404,000 during the first nine months of this year and has lost money for six consecutive years. It serves more than 12,500 members and has $130 million in assets.
The merger is expected to close in April.
