SAN JOSE, Calif. — Members of Golden Bay Federal Credit Union recently voted to merge with Meriwest Credit Union setting the stage for a combined financial institution with more than $1.3 billion in assets.
The $1.1 billion Meriwest CU will be the remaining credit union and will have soon have an expanded network of 19 financial centers in the Bay Area and Tucson, Ariz. The $209 million Golden Bay FCU serves nearly 75,000 members. Membership will grow to 92,000 through the merger, which is scheduled to occur Dec. 1.
"This new organization will combine the vision, people, branches, and the capability of two successful credit unions," said Christopher Owen, president/CEO of Meriwest. "The larger deposit and capital base will allow us to offer a wider range of products and services."
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According to both CUs, the primary objective of the merger is "to build on the strengths of both organizations; to enhance the member service and experience, deliver expanded financial product offerings, contribute to the communities served, and provide financial services to members above their expectations."
"In approaching this merger, our highest priority was to provide our members with superior added value through strong financial leadership and an improved branch presence where they live and work," said Charles Munch, chairman of Golden Bay FCU.
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