Press
Golden West Cities Federal Credit Union merges with Credit Union of Southern California
BREA, CA (April 8, 2014) — On April 1, 2014, Credit Union of Southern California (CU SoCal) and Golden West Cities Federal Credit Union (GWCFCU) 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 nearly $780 million in assets, 11 branch locations, and serves more than 64,000 Members. CU SoCal President/CEO Dave Gunderson will remain as President/CEO and GWCFCU President/CEO, Jacqueline Wadsworth, will extend her retirement to act in an advisory position for one year. GWCFCU’s single branch in Garden Grove, CA will remain open and all associates will 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 Wadsworth. “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 GWCFCU 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 GWCFCU 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 (CUSO). 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 nearly $780 million in assets and is dedicated to Building Better Lives for its 64,000 Member-Owners through World-Class Service and convenience. Membership is open to those who live, work, worship, or attend school in Orange County, San Gabriel Valley, the cities connecting those geographic areas, as well as Chino, Chino Hills, Ontario, Pomona and San Bernardino. For more information, visit www.CUSoCal.org.
About CU SoCal Partners LLC
CU SoCal Partners LLC, headquartered in Brea, 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 www.CUSoCalPartners.com.