SACRAMENTO – State regulators said they have received applications for two more credit union mergers, and have approved the merger of troubled Service Plus CU into SchoolsFirst FCU.
Processing Content
Riverside-based Service Plus, a one-time $92 million credit union, reported assets of $84 million and a loss of $1.5 million at mid-year. It lost $2.2 million in 2008.
The Department of Financial Institutions is also reviewing applications to merge WestWorks CU, a $62 million Alhambra credit union, with Credit Union of Southern California, the $535 million Whittier institution; and to combine $5 million Limoneira FCU, Santa Paula, with California Agribusiness CU, a $32 million credit union in Buena Park.
