SACRAMENTO, Calif.-The Golden 1 CU said it has completed the merger of Steinbeck CU, one of two ailing credit unions being acquired by the $7-billion credit union.
Steinbeck, based in Salinas, Calif., reported a $514,000 operating loss for the first quarter and a loss of $801,000 for 2008.
The deal comes as The Golden 1 is completing a merger with U.S. First FCU, a $110 million San Francisco credit union.
New York's Arrow Financial and Pennsylvania's First Commonwealth Financial were seeing their insurance revenue grow before they announced agency purchases this week. Prior to 2025, banks were shedding their insurance agencies.
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