The $705 million Financial Partners Credit Union of California announced Thursday it has formally merged the $12 million Santa Fe Springs City Employees CU in a transaction months in the making.
The Santa Fe Springs CU, chartered in 1961 with 1,100 members, sought out Financial Partners in a mutual agreed consolidation, a spokesman said. The CU lost just under $60,000 last year with more than 21% net worth.
"Santa Fe Springs City Employees Credit Union has always been about serving our members in the very best way we can," Chairman Steve Koster said. "The merger with Financial Partners further validates this vision and provides our membership with a boarder array of services with greater convenience."
Headquartered in Downey and with 52,000 members, Financial Partners Credit Union has branches in Brea, Downey, Huntington Beach, Orange, and Woodland Hills.