Press
South Western FCU merges with Credit Union of Southern California
Credit Unions Unite to Build Better Lives for Members and Employees
BREA, CA (October 20, 2014) — On October 1, 2014, Credit Union of Southern California and South Western Federal Credit Union (SWFCU) successfully completed their merger creating greater value and convenience for the combined Membership and increasing opportunities for employee development and career advancement.
The newly combined organization, which will retain the CU SoCal name, has more than $920 million in assets, 13 branch locations, and serves more than 74,000 Members. CU SoCal President/CEO Dave Gunderson will remain as President/CEO and SWFCU President/CEO, Laura Poore, will serve the combined organization in an advisory capacity. SWFCU’s two branches in Whittier and La Habra, CA remain open, and all associates continue to be employed by CU SoCal.
“We are eager to continue serving our Members’ financial needs as part of the CU SoCal team,” stated Poore. “This merger created tremendous opportunities for Members and employees. With this partnership, we are able to remain committed to the high level of service our Membership deserves while simultaneously offering them greater convenience and more innovative products and services.”
Gunderson shared, “We are equally excited about this partnership. CU SoCal and SWFCU both share a commitment to building better lives for Members and employees. Together, we bring our Members and our employees more value in both the long and short term.”
The credit unions relied on employee engagement and CU SoCal’s experience with past mergers to seamlessly integrate SWFCU Member data. Complexities within the merger were mitigated by CU SoCal’s Information Services Team which operates as CU SoCal Partners LLC, a Credit Union Service Organization. The comprehensive services they provide to CU SoCal as well as other credit unions gave them the broad, yet detailed knowledge of the intricate Member data systems and the experience needed to successfully transfer Member accounts in a short period of time.
About Credit Union of Southern California (CU SoCal)
Founded in 1954 as Whittier Area Schools Federal Credit Union, CU SoCal has a five-star financial rating from BauerFinancial, a nationally recognized independent bank research firm. Today, CU SoCal has more than $920 million in assets and is dedicated to Building Better Lives for its 74,000 Member-Owners through World-Class Service and convenience. Membership is open to those who live, work, worship, or attend school in Orange County, Los Angeles County, as well as Chino, Chino Hills, Ontario, Pomona and San Bernardino. For more information, visit CUSoCal.org.
About CU SoCal Partners LLC
CU SoCal Partners LLC, headquartered in Anaheim Hills, California, is an information technology support provider that offers a wide spectrum of technological services to help credit unions across North America gain greater efficiency and effectiveness. CU SoCal Partners LLC is available by email at sales@CUSoCalPartners.com or by phone at 866.979.6482. For more information, visit CUSoCalPartners.com.