San Francisco Federal Credit Union (SFFedCU) announced they have entered into a merger agreement with San Francisco Bay Area Educators Credit Union, effective February 20, 2020. The 2,000 members of the Educators Credit Union are joining nearly 47,000 SFFedCU members, and the Educators’ only branch at 851 Van Ness Avenue will become the seventh SFFedCU branch.
San Francisco Bay Area Educators Credit Union was established in 1955, founded by teachers, for teachers. Throughout the years, the focus has been to provide financial support to teachers by offering competitive products and services. “San Francisco Federal Credit Union shares the same values, as we have demonstrated throughout our 65 years of service,” says Jonathan Oliver, President & CEO of San Francisco Federal Credit Union. “Merging will allow us to offer more products, services, convenient branch locations and access than ever before.”
SFFedCU has been around since 1954, and just celebrated their 65th anniversary in November 2019. They have members in San Francisco and San Mateo county, along with assets of $1.1 billion dollars.