UNCLE Credit Union merges with Stockton Community Federal Credit Union
Action expands branch network in UNCLE’s 4.1 million potential membership market.
LIVERMORE, CA (January 10, 2018) — UNCLE Credit Union announced today it assumed control of Stockton Community Federal Credit Union operations as of January 1, 2018, with full systems integration scheduled for completion by April 1st. This is the first merger for UNCLE in over 2 decades, a credit union originally formed to serve the employees of the University of California Radiation Laboratory at Livermore, now known as the Lawrence Livermore National Laboratory.
Expanded Service Cited as Reason for Merger
The approved merger petition cited “expanded services” as the reason for the merger. UNCLE previously had expanded its field of membership available to anyone who lives, regularly works, attends school, or regularly worships in Alameda, Contra Costa, San Joaquin, or Stanislaus Counties, a geographic area totaling 4.1 million people per current US Census estimates. Stockton Community Federal was serving residents of the city and unincorporated areas of the Stockton Census County Division (CCD) and those who participate in poverty alleviation programs in the greater Stockton area.
“This is a natural fit for both organizations and a “win-win” example of the merger process” said Chung Bothwell, UNCLE’s Board Chairman. “Stockton Community CU members get instant access to a much wider range of high value financial services and UNCLE can now more conveniently serve its eligible members in the greater Stockton area” continued Bothwell.
Cindy Hodson was the former President/CEO of Stockton Community Credit Union. She will continue serving the Stockton community as the Financial Center Manager of UNCLE’s new office. “I am thrilled to be able to offer a much wider range of financial services to members” said Hodson. “I know my Stockton members will be very happy with the additional services” continued Hodson.
UNCLE’s First Merger with CEO Harold Roundtree
UNCLE Credit union’s taking a thoughtful and thorough approach to the process. “We see this as a great opportunity” said Harold Roundtree, UNCLE President/CEO, who is leading his management team through the integration. “Our objective is to make this a seamless process for our combined membership and employees” continued Roundtree.
About UNCLE Credit Union
Established in 1957, UNCLE Credit Union is a $700+ million, full-service financial institution serving approximately 34,000 members. The organization offers the benefits of credit union membership with a full array of financial services to anyone who lives, works, worships, or attends school in Alameda, Contra Costa, San Joaquin, and Stanislaus counties. UNCLE has five financial centers and one sales office located in the San Francisco Bay Area and the Central Valley, as well as 5,600 branches and more than 30,000 surcharge-free ATMs available through participation in the CO-OP Shared Branching Network. In addition, members have access to a wide spectrum of mobile and online banking services. UNCLE Credit Union is renowned for its community involvement, professional and personalized service, and unwavering commitment to helping members achieve their financial goals. To learn more, visit www.unclecu.org.
About Stockton Community Federal Credit Union
Stockton Community Credit Union was formed in 1951. As of September 30, 2017, it had 643 members and $5.9 million in assets, per NCUA 5300 Call Report records.
