The $1.9 million, 383-member Tehachapi Federal Credit Union in Tehachapi, Calif., has merged with the $1.2 billion, 162,900-member Kern Schools Federal Credit Union in Bakersfield, Calif.
Like many small credit unions, Tehachapi FCU has been struggling financially over the last few years. From 2008 to 2012, the credit union has posted a total net income loss of $348,481, according to NCUA financial performance reports.
Kern Schools FCU said in a statement Monday it plans to hold a reception and various workshops in the coming months to welcome Tehachapi FCU members.
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"Kern Schools offers many advantages previously unavailable to members of Tehachapi Federal Credit Union, including an express office with two full service ATMS in Tehachapi, mortgage products and services, mobile banking and online banking with bill pay," said Lorri Ward, president/CEO of the now-merged Tehachapi FCU.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
