The California Department of Financial Institutions said it hasapproved the merger request of $413 million Valley First Credit Union in Modesto, Calif., to acquire thefinancially troubled $72 million State CenterCredit Union of Fresno, Calif.
|Between 2008 and 2011, State Center CU has posted net incomelosses of $3 million, and has lost an additional $152,025 throughSeptember 2012, according to financial reports filed with theNCUA.
|The $732 million Aloha Pacific Federal Credit Union in Honolulu said its systemsconversion with $12.2 million Hawaii Stevedore/Castle & CookeHawaii Federal Credit Union in Honolulu was completed on Dec. 1.That merger was recently approved by the NCUA.
|This merger represents the fifth one in five years by AlohaPacific FCU, which previously merged with InterIsland FCU, FirstInsurance FCU, Word of Life FCU and Media Hawaii FCU.
|HSCCHFCU's one branch remains open and its employees were placedin jobs at Aloha Pacific.
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