Credit Union of Southern California has announced that it hascompleted mergers with three smaller, local credit unions in a63-day span.

Merging into the Brea, Calif.-based institution are InlandEmpire Credit Union, North Orange County CreditUnion and Family 1 Federal Credit Union.

“All three were well-capitalized institutions. They decided theywanted to merge with us because they wanted to offer more servicesto their members,” said Dave Gunderson, CEO of Credit Union ofSouthern California, in an interview. “One did not offer homebanking. None had Saturday hours. We offer all of that andmore.”

Gunderson stressed that all staff were retained in the mergers.“After the merger, operationally we gain economies of scale. Wewill have greater efficiencies. And some employees will leave bytheir own choice.”

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