SACRAMENTO, Calif. – The California Department of Financial Institutions has received applications for two more credit union mergers: Family 1 FCU into Credit Union of Southern California; and Santa Monica City Employees FCU into Southland CU.
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Family 1 FCU is a $26-million credit union based in Placentia that is narrowly profitable but has net worth of more than 8%.
Santa Monica City Employees FCU is a $28-million credit union that has reported small losses the past two years but has net worth of almost 8%.
