California CUs Consolidate
The $40 million Golden West Cities Federal Credit Union Credit Union in Garden Grove, Calif., has merged with the $710 million Credit Union of Southern California in Brea, according to a CU SoCal statement.
Jacqueline Wadsworth, president/CEO of the Golden West Cities FCU, will “extend her retirement to act in an advisory position for one year,” the prepared statement said.
“We are eager to continue serving our members’ financial needs as part of the CU SoCal team,” Wadsworth said. “This merger created tremendous opportunities for members and employees. With this partnership, we are able to remain committed to the high level of service our membership deserves while simultaneously offering them greater convenience and more innovative products and services.”
Golden West Cities FCU served 3,850 members and operated one branch, which remains open and has retained its employees.
The cooperative, originally named Garden Grove City Employees Federal Credit Union, was established in 1960 to serve the financial need employees of the city of Garden Grove. In 1976, the credit union's name was changed to Golden West Cities FCU.