Santa Monica CCU merges with Hughes Aircraft EFCU

LOS ANGELES-Santa Monica Consumer's Credit Union officials have announced that it has merged with Hughes Aircraft Employees Federal Credit Union. SMCCU had one branch located in Santa Monica that will become a Hughes Aircraft EFCU member service center, continuing to serve SMCCU's 7,000 members as well as 4,000 Hughes Aircraft EFCU members in the area, said Hughes Aircraft EFCU Chairman Paul A. James. "SMCCU has a long and proud history of service to their members that is very similar to ours..." James said. "In addition to our symbiotic service relationship, our two credit unions share a history of mutual respect and support that dates back many decades. Because of the evolving financial services marketplace and changing regulations governing credit unions, the SMCCU Board was concerned about continuing their level of excellent member services. After careful consideration, the SMCCU Board and management agreed that we could do the best job of carrying on their heritage. "We couldn't be more sure our members are in good hands," noted SMCCU Chairwoman and former CEO Belva Roberts. SMCCU's members now will have access to services through Hughes Aircraft EFCU's 29 branches in California, Virginia, Maryland, Texas and Washington. In addition, the $1.8 billion-asset HAEFCU participates in CO-OP Shared Branching Network, which allows members to access accounts at more than 50 additional CUs in California, as well as 40 more nationwide. Hughes Aircraft EFCU serves 172,000 members.