SANTA ANA, Calif.-SchoolsFirst FCU, with $9.4 billion in assets, will pick up three branches in suburban Los Angeles with the merger of All Valley FCU, a one-time $95-million teachers credit union that NCUA designated as in poor financial condition.
Processing Content
Several other credit union giants were cleared by NCUA to acquire other CUs, including: $1.1-billion Metro CU to acquire $2-million Fenwal CU, and $2.3-billion Michigan State University FCU to acquire $33-million Eaton County Educational CU.
Meanwhile, in Ft. Worth, Texas, effective May 31, the $1.4-billion EECU will absorb via meger the $50-million Telco CU. Telco began its life in 1935 as Northwest Texas Bell Telephone Employees FCU.
