The $41 million, 3,850-member Golden West Cities Federal Credit Union in Garden Grove, Calif., has agreed to merge into the $711 million, 59,000-member Credit Union of Southern California.
The credit unions said Tuesday that Golden West Cities members voted overwhelmingly in favor of the consolidation and that when the merger takes place on April 1, CU SoCal President/CEO Dave Gunderson will remain in that role, while Golden West Cities CEO Jacqueline Wadsworth will extend her retirement date by a year to stay on as an adviser.
The merger will give CU SoCal more than 60,000 members being served by 11 branches across Orange County, the San Gabriel Valley and parts of San Bernardino County. All employees of both credit unions will be retained, the announcement said.
“This partnership brings our members many immediate benefits including access to longer service hours and expanded product offerings – with the same friendly, personalized and efficient service we’ve had for 53 years. In addition, this partnership also creates a bright future for all employees,” Wadsworth said.
Golden West Cities was founded in 1960 as Garden Grove City Employees Federal Credit Union.
CU SoCal was founded in 1954 as Whittier Area Schools Federal Credit Union. It also merged three smaller credit unions in 2012.