Guardian CU Merges With Ailing Alabama CU

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MONTGOMERY, Ala. – Guardian CU has agreed to merge into it Comala CU, a nearby $62 million institution that has reported small losses over the past two years.

Comala reported a $28,000 loss for 2008, an $84,000 loss for 2009, a $14,000 loss for the first quarter of 2010, and net worth of 5.5% at the end of the first quarter.

Guardian has 15,000 members, $139 million in assets and four locations in Montgomery and Prattville.

 

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