California Merger Activity

Self-Help employs two principal strategies in building a large, financially sustainable credit union branch network designed specifically to serve low and middle income neighborhoods and families – growth through mergers and the development of our innovative Micro Branch model.

Self-Help Federal - Growth through mergers

Self-Help has a 30-year track record of supporting other independent credit unions that effectively serve their communities, and we continue to do so in California. But credit unions periodically seek to merge with another credit union for a variety of reasons. Sometimes they seek additional products and services that another has already developed that will help them to better serve their members. Or they may seek to serve more people in their field of membership, and lack sufficient capital to grow.  And sometimes merging is a financial necessity, when economic conditions have led to a situation where regulators are concerned about a credit union’s safety and soundness.

Self-Help Federal has become an attractive merger partner for California credit unions serving our state’s hard working families. In this current financial crisis, many are under extreme financial pressure, largely due to the weak economy and escalating unemployment that has put real pressure on credit union borrowers. With a strong capital base, many credit unions that share our mission of serving hard-working families with responsible financial services have reached out to Self-Help as a prospective merger partner.

Since securing the charter for Self-Help Federal in July 2008, Self-Help has completed seven mergers with credit unions in California, totaling 18 branches. Our mergers thus far include:

		September 2008: merged with People’s Community Partnership Federal Credit Union in West Oakland.
		June 2009: merged with Community Trust Credit Union, headquartered in Modesto, with an additional branch in Riverbank.
		January 1, 2010: merged with El Futuro Credit Union in Porterville.
		January 8, 2010: merged the operations of Kern Central CU, with one branch in Bakersfield and one in Lamont.
		June 1, 2010: merged with United Savings Federal Credit Union in Antioch.
		January 1, 2011: merged with 1st Pacific Credit Union headquartered in Vallejo with branches in San Francisco, Vallejo, Napa, Fairfield, American Canyon, and Vacaville.
		April 8, 2011: merged operations with Mission SF Federal Credit Union, with one branch in San Francisco.

If you are interested in learning more about our merger activity, or might be interested in exploring a merger with us, please contact us directly.