LIVERMORE, Calif.—Two credit unions here have announced a merger. The $395-million UNCLE Credit Union has absorbed the $5.8-million Stockton Community FCU, with full systems integration scheduled for completion by April 1.
According to UNCLE FCU, it is its first merger in more than two decades. UNCLE is an acronym for the CUs original FOM, employees of the University of California Radiation Laboratory at Livermore, now known as the Lawrence Livermore National Laboratory.
The approved merger petition cited “expanded services” as the reason for the merger. UNCLE previously had expanded its field of membership available to anyone who lives, regularly works, attends school, or regularly worships in Alameda, Contra Costa, San Joaquin, or Stanislaus Counties, a geographic area totaling 4.1 million people per current US Census estimates.
Stockton Community Federal was serving residents of the city and unincorporated areas of the Stockton Census County Division (CCD) and those who participate in poverty alleviation programs in the greater Stockton area.
Cindy Hodson, the former president/CEO of Stockton Community Credit Union, will now be financial center manager of UNCLE’s new office.
“We see this as a great opportunity” said Harold Roundtree, UNCLE president/CEO. “Our objective is to make this a seamless process for our combined membership and employees.”