EL CENTRO, Calif.–Sun Community FCU here has acquired the members and deposits of a branch of Golden 1 Credit Union here. Approximately 3,400 members have now joined Sun Community.
“This transaction will provide greater banking convenience for Golden 1 members, as they will now have access to eight branches in Imperial County, as well as one branch in Palm Desert and one branch in Palm Springs. We look forward to providing them with the level of products and services our members currently enjoy,” said Dale Johnson, president/CEO of Sun Community, in a statement.
Mr. Johnson went on to note that “this is another example of our progress in building our credit union into a premier community based, diverse financial institution with locations in Imperial and Riverside Counties.”
According to Richard S. Garabedian, an attorney with Womble Carlyle Sandridge & Rice, LLP, Washington, who was involved in the transaction, the move required a vote by members of the branch in order to proceed. The members voted in favor of joining the $400-million Sun Community. Nearly all of those members live in Imperial County, Calif., where the branch is located, he told CUToday.info.
Sun Community has 10 branch locations and 36,000 members