Fort Bragg CU Members Approve Merger with Mendo Lake CU
Members of the $31 million Fort Bragg Community Federal Credit Union in Fort Bragg, Calif., have voted to merge with the $135 million Mendo Lake Credit Union in Ukiah, Calif.
The Fort Bragg office will be managed by Tracy McDaniel. System integrations are scheduled throughout October, according to a joint press release.
In addition, the merger agreement includes a provision for two of the board members of Fort Bragg FCU to join the Mendo Lake Credit Union board of directors, and one Fort Bragg FCU volunteer to join the supervisory/audit committee.
All employees of Mendo Lake and Fort Bragg credit unions will retain their jobs under the merger agreement.
Pam Merritt, president/CEO of Fort Bragg FCU, is retiring after more than 39 years working in the financial services industry, the release said.
Merritt said the merger is “an opportunity for 4,760 members of Fort Bragg FCU to have access to additional lending options and expanded services, and to keep all of the employees that members are used to seeing each day.”
Fort Bragg Community FCU was chartered in 1952. At the end of its first year, it had 26 members and $4,393 in assets.