The $8 million 1st Choice Federal Credit Union will be merginginto $664 million SF Police Credit Union.
|SFPCU said the merger was approved by the smaller credit unionat its annual meeting on June 9. The merger is expected to takeplace July 29, pending regulatory approval.
|“Merging with SFPCU will provide us with the scale andefficiencies to ensure that our members will continue to haveaccess to competitively priced loans, additional savings andinvestment products and services, as well as account access,” saidSerenidad La Rosa, manager of 1st Choice.
|The 1,600-member credit union is listed by the NCUA as amultiple common bond organization primarily serving healthcareworkers. It was founded in 1963 to serve employees of Eden MedicalCenter.
|“This merger brings together two credit unions withcomplementary strategic visions and a commitment to membersatisfaction. By joining together, the organization will find anexpanded footprint in terms of geography and membership, as we moveto continue to serve first responders,” said Michael R. Sordelli,president/CEO of 29,000-member SFPCU in San Francisco.
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