California's Pacific Postal Credit Union in San Jose, which hasbeen healthy despite some of its peers undergoing rough times, willbe merging the $8.7 million East Bay Postal Credit Union of Oaklandon July 1.
|“East Bay's decision does reflect the competitive pressures andeconomies of scale felt by a number of small credit unions,” saidJan Meere, president/CEO of the $193 million Pacific Postal.
|The consolidation of East Bay solidifies Pacific Postal as theprimary credit union serving U.S. Postal Service and civil serviceemployees in the Bay Area, Meere said.
|In recent years, Pacific Postal has merged two other postalcredit unions, San Francisco Postal Credit Union and the PostalCredit Union of Castro Valley.
|Meere said the merger of East Bay would give its members accessto mobile banking and other services “that would have been costprohibitive for them.” Pacific Postal has 14,500 memberswhile East Bay Postal has 1,700.
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