SACRAMENTO, Calif. — Credit unions interested in the purchase and assumption of failed Cal State 9 Credit Union will have some big competition: $6.6 billion The Golden 1 Credit Union, California's largest. CEO Teresa Halleck said her team is seriously considering making a bid on the package.
"We looked at them the last time, so we're just updating what's changed since then, what's happened to their core deposits and remaining loans," Halleck said, "and just basically updating our due diligence efforts from previous months."
Halleck said Cal State 9′s presence in the East Bay is an attractive draw. Bids are due to the NCUA by the end of April.
"It's one of the areas we're looking to go into, and there are always different ways to get there. A merger or P&A is one option," she said
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