Sacramento CU Climbs Out Of TheSoup

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SACRAMENTO, Calif. - (04/05/05) -- Golden State FCU said last week itis partnering with Franklin Boulevard Business Association to offerthe trade group business loans. The financially troubled $24million credit union, known until last week as Campbell Soup FCU,has applied to the U.S. Small Business Administration to offerguaranteed small business loans. The credit union changed its nameto shift the focus from the local Campbell Soup plant, which hasreduced its workforce from more than 3,000 employees to around 500in recent years. The credit union lost $340,000 last ear mainlybecause of bankruptcies of plant workers who lost their jobs,according credit union officials.

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