Golden West Cities Federal Credit Union Merges with Credit Union of Southern California Posted on January 28, 2014

FOR IMMEDIATE RELEASE
Contact: Michelle Hunter
Direct: 714.671.2746
MHunter@CUSoCal.org

Golden West Cities Federal Credit Union Merges with Credit Union of Southern California

Brea and Garden Grove, CA—On January 21, 2014, Members of Golden West Cities Federal Credit Union (Golden West Cities FCU) voted overwhelmingly in favor of merging into Credit Union of Southern California (CU SoCal). This merger will create a credit union with nearly $760 million in assets, 11 branch locations, and will serve more than 60,000 Members throughout Orange County, the San Gabriel Valley, as well as parts of San Bernardino County. The credit unions will be integrated on April 1, 2014.

Golden West Cities FCU and CU SoCal share a long and rich history of making a positive difference in the lives of their Members. Through this merger, that legacy will continue. Former Golden West Cities FCU Members will enjoy many additional products and services including Saturday hours at several branches and in the phone center, extended weekday branch and phone hours, free Mobile Banking and Remote Deposit Capture, as well as Individual Retirement Accounts and business loans.

CU SoCal President/CEO Dave Gunderson will remain President/CEO of the newly combined organization, which will retain the CU SoCal name. Golden West Cities FCU CEO, Jacqueline Wadsworth, has agreed to extend her retirement date to act in an advisory position for one year. All branches will remain open, and all employees of CU SoCal and Golden West Cities FCU will continue to be employed following the merger.

“CU SoCal is an outstanding organization, and we couldn’t be more excited about a shared future,” stated Wadsworth. “This partnership brings our Members many immediate benefits including access to longer Member service hours and expanded product offerings—with the same friendly, personalized and efficient service we’ve had for 53 years. In addition, this partnership also creates a bright future for all employees.”

Likewise, Gunderson shared, “Culture is a critical component to the success of any partnership. We both share a commitment to building better lives for our Members, employees, and residents in the communities we serve. A combined credit union will allow us to strengthen our commitment and provide more opportunities for the Members and employees of both credit unions.”

About Credit Union of Southern California (CU SoCal)

Founded in 1954 as Whittier Area Schools Federal Credit Union, CU SoCal (CUSoCal.org) has a five-star financial rating from BauerFinancial, a nationally recognized independent research firm. Today, CU SoCal has more than $711 million in assets and is dedicated to providing its more than 58,000 Member-Owners with World-Class Service, competitive products, and convenience. Membership is available to those who live, work, attend school or worship in Orange County, the San Gabriel Valley, and the cities connecting those geographic areas, as well as Chino, Chino Hills, Ontario, Pomona, and San Bernardino.

About Golden West Cities Federal Credit Union

On January 12, 1960, Garden Grove city employees requested approval to establish Garden Grove City Employees Federal Credit Union. On January 16, 1960 it was approved as such and would become Golden West Cities Federal Credit Union in March of 1976. Today, Golden West Cities FCU serves nearly 4,000 Members and has a superior five-star financial rating from BauerFinancial, a nationally recognized independent research firm.

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