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MONTEREY, Calif. — Embarking on what is being called an “exciting and groundbreaking step” to build credit union consortiums in community outreach, the president of a $50 million Modesto, Calif. CU has revealed plans for a new “mentored” branch jointly funded and managed by three large Bay Area CUs.

The novel “credit union within a credit union” project involves a July 1 opening of a low-income branch in E. Palo Alto by Community Trust Credit Union of Modesto and joined by Addison Avenue Federal Credit Union, Patelco Credit Union, San Francisco and Stanford Credit Union of Palo Alto.

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