Nine-member board for proposed People's Reserve Credit Union said to be nearly in place.
California’s $3.1 billion Kinecta Federal Credit Union, party to a delayed mega-merger with the $1.1 billion NuVision CU, is in recovery mode this month, tending to a battered mortgage portfolio.
Member vote for merger with NuVision said not expected until at least mid-2013.
Ending a processing period that lasted eight months, the NCUA has approved the nation's biggest interstate merger, the $4.6 billion consolidation of First Tech Credit Union, Beaverton, Ore., and Addison Avenue FCU of Palo Alto, Calif.
The boards of the $3.5 billion Kinecta FCU and $1.2 billion NuVision FCU have announced their intent to merge.
The boards of the $3.5 billion Kinecta FCU and $1.2 billion NuVision FCU have announced their intent to merge into an institution that will serve 300,000 members in two Southern California counties.
The $350 million USC Credit Union was recently named the 2010 Financial Services Champion of the Year by the SBA's Los Angeles district office.