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2 Calif. credit unions to merge

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2 Calif. credit unions to merge

SanFrancisco-based San FranciscoMunicipal Railway Employees Federal Credit Union ($5.1 million) isset to merge with and into Torrance, Calif.-based ($2.17 billion), according to an April 6 press release posted on CUInsight.com.

Regulatoryapproval has been obtained for the proposed merger, which will be subject toSan Francisco Municipal Railway Employees FCU member vote.

TheSan Francisco branch of San Francisco Municipal Railway Employees FCU willremain open. All workers will keep their jobs.

Previously, the Torrance-based credit union announced thatstarting March 7, it will begin transitioning to its new name, UNIFY Financial CreditUnion, from its old name, WesternFederal Credit Union.