In expanding its Denver footprint, Security Service Federal Credit Union in San Antonio said last week it is merging the $13.7 million Aurora Catholic FCU, creating its sixth location in the market."This is a credit union that came to us and so we have a merger that makes sense to all parties," said John Worthington, senior vice president of the $5 billion San Antonio CU. Security Service last expanded in Colorado with its May 2007 buyout of the NCUA-conserved New Horizons Community CU of Denver.With the addition of Aurora Catholic, Security Service will have 14 Colorado locations including facilities in Pueblo, Colorado Springs and Fountain.Aurora Catholic, founded in 1955, has a membership composed of parishioners at churches, schools and organizations in the Denver diocese. Security noted that it already serves a parishioner base at the Corpus Christi diocese.The merger with Security Service became effective March 31. Aurora Catholic is one of a number of small Colorado CUs which sustained loan losses this year and in 2008 relating to the recession."We are not in any kind of hunt for prospects but we are willing to talk to those small credit unions that see us as a merger possibility," said Worthington.–[email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.