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Media Release

Butte Federal Credit Union Members Approve Merger

Oct 1, 2014

Contacts: David Morgan, President/CEO Butte FCU, 530-868-5405 xt 216,; Micheline Savarin, Self-Help, 415-572-2433,; David Beck, 919-956-4495, Self-Help,

Biggs, CA — Following the recommendation of its board of directors, Butte Federal Credit Union members voted to merge with Self-Help Federal Credit Union on Monday, September 29. The merger is effective as of today (October 1, 2014).

Butte, with 8,300 members, operates three branches north of Sacramento, in Biggs, Oroville, and Chico, and serves a largely rural and agriculture-based membership. Total assets are $38 million. Self-Help Federal Credit Union combined now has $588 million in assets, over 58,000 members and 20 California branches, most operating under division names Community Trust, CT Prospera, and now Butte Federal Credit Union. San Francisco’s Mission Street branch does business as Self-Help Federal Credit Union.

“Butte prides itself in providing members the best possible financial services,” said Butte CEO David Morgan. “Merging with Self-Help ensures that we will continue to offer our members all that they deserve.”

Butte was founded in 1935 as the first Grange credit union. Frank Parker, Officer of the Land Bank of Chico, realized he could not help many of the people who came to him for loans. So, Parker and a few fellow Grange members formed the credit union. The field of membership has expanded over the years. During the 1990’s Butte added over 150 Select Employee Groups to its field of membership and in 2003 it was expanded to include any person who lives, works, worships, attends school or volunteers in Butte, Colusa, Glenn, Plumas, Sutter, Tehama or Yuba counties.

Self-Help Federal, chartered in 2008, has previously combined with seven credit unions serving diverse California communities in the Bay Area and Central Valley. Self-Help Federal offers a full range of financial products and services including personal, vehicle, and home loans, and a dynamic online and mobile banking system.

“Self-Help is excited to be joining forces with Butte as we both work to provide fair and affordable financial services,” said Self-Help Federal President Steve Zuckerman. “Combining our efforts will help us serve more Californians more efficiently.”

Self-Help Federal Credit Union ( is part of the non-profit Center for Community Self-Help family of organizations. This includes North Carolina state-chartered Self-Help Credit Union, Self-Help Ventures Fund and the Center for Responsible Lending.

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