Three-Way Merger Gets Go-Ahead

BUENA PARK, Calif. – NCUA said Friday it has approved a rare combination of three credit unions. California Agribusiness CU, Knudsen FCU, in nearby City of Industry, and California's First FCU, in Garden Grove, will form a single CU with almost $35 million and 8,000 members. The surviving institution will be California Agribusiness CU, the largest of the three, with $21 million in assets. The three-way merger has already been cleared by the state’s Department of Financial Institutions.

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