Press
San Francisco FCU merger with SF Recreation & Parks FCU approved
SAN FRANCISCO, CA (March 18, 2015) — San Francisco Federal Credit Union, a not-for-profit, member-owned financial institution serving San Francisco and San Mateo Counties, has scheduled a merger with SF Recreation & Parks Federal Credit Union.
The merger will take effect June 1, 2015 and was approved by the SF Recreation & Parks FCU membership on March 16, 2015. In merging with San Francisco FCU, SF Recreation & Parks FCU members will have access to a full-range of financial products and services, some of which will be newly available to them. Additionally, they will benefit from expanded delivery channels including mobile banking and six additional branches in San Francisco and San Mateo Counties.
Michele Sosa, current CEO of SF Recreation & Parks FCU said, “After extensive due diligence and consideration, we chose San Francisco FCU due to its comprehensive offerings, similar philosophy around member service and shared commitment to the San Francisco community.”
The Credit Unions both recently celebrated their founding in 1954 with 60 Year Anniversary celebrations, and already have some membership overlap. As of December 31, 2014, San Francisco FCU’s $938 million in assets and SF Recreation & Parks FCU’s $13.6 million in assets will make a combined asset size of $952 million.
President and CEO of San Francisco FCU, Steven Stapp, said “We are very excited to welcome SF Recreation & Parks FCU members to San Francisco FCU. We look forward to providing them with additional products, excellent service, and continued dedication.”
For more information on the upcoming merger, please visit SanFranciscoFCU.com or call San Francisco FCU at 415.775.5377.
About San Francisco Federal Credit Union
San Francisco Federal Credit Union has been serving San Francisco since 1954. Today, anyone who lives, works, or attends school in San Francisco and San Mateo Counties may apply for membership. We currently serve more than 34,000 members. San Francisco FCU is federally insured by the National Credit Union Administration and is an Equal Housing Lender.
About SF Recreation & Park Federal Credit Union
SF Recreation & Park FCU was founded in 1954 to serve the employees of the San Francisco Recreation & Parks Department. They continue to serve their founding membership base alone with employees at other select employer groups.