Santa Cruz County ECU Members Approve Bay FCU Merger

By Kristin Broughton

Published September 30, 2014, 1:26 p.m. EDT

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Updated August 26, 2020, 9:44 p.m. EDT

1 Min Read

Members of the Santa Cruz County Employees CU in Santa Cruz, Calif., have approved a plan to merge with Bay FCU in Capitola, Calif.

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The deal has also received the necessary regulatory approvals, and is expected to close Nov. 1.

"We are encouraged by the resounding vote of confidence from our membership," said Trey Dunbar, president and chief executive of Santa Cruz County ECU, in a news release Monday.

The board of the $27 million-asset Santa Cruz County ECU agreed in April to merge with the $704 million-asset Bay FCU, citing increasing regulatory costs.

Both credit unions are located in Santa Cruz County, Calif.

Kristin Broughton

Kristin Broughton is a reporter for American Banker, where she writes about the business of national and regional banking.

For reprint and licensing requests for this article, click here.

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