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The $349 million CBC Federal Credit Union of Oxnard, Calif. announced this week it is merging the struggling $11 million Civic Arts Plaza CU of nearby Thousand Oaks and expects to effect the transaction by Dec. 1.

“In a time of increased consolidations and acquisitions, we are pleased to find a local partner to help expand our reach in Ventura County,” said Ray Ewin, president/CEO of CBC.

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