West Coast CUs Join Hands
SANTA CLARA, Calif. - (06/13/06) KeyPoint CU announced Monday ithas agreed to acquire financially ailing West One FCU, in nearbyLivermore, Calif., to produce a credit union with almost $800million in assets. West One, which has $65 million in assets and7,000 members, reported a net loss of $611,525 for the firstquarter of 2006, compared to a loss of $85,661 in the first quarterlast year. KeyPoint CU was formerly known as AEA CU and changed itsname and field of membership in 2004 and now serves more than eightmillions residents in six northern California counties. It reportednet income of $1 million for the first quarter of 2005, up from$848,722 for the first quarter last year. West One FCU waschartered in 1950 as Contra-Tel CU to serve employees of PacificBell.