BARSTOW, Calif.–Members of Barstow Community Credit Union have vote in favor of merging into Frontwave Credit Union.
As CUToday.info reported earlier, the $6.49-million BCCU has struggled with profitability. It reported a loss of $121,605 at mid-year, with capital of 4.39%.
According to Frontwave Cs, both currently serve the community of Barstow and have a “long history of service to their members.”
By merging with Frontwave Credit Union, Barstow Community Credit Union Members will gain access to 13 additional branch locations throughout Southern California, as well as lower loan rates, and expanded product and service offerings, including mortgage loans, money market accounts, insurance and investment services, Frontwave said.
‘Unique Needs’
“We are excited to welcome Barstow Community Credit Union Members to the Frontwave crew,” said Bill Birnie, president/CEO of Frontwave Credit Union. “Having served the Barstow community for decades, we understand the unique needs these members have, and are thrilled to be able to offer them even more solutions to help make their financial dreams come true.”
Barstow Community Credit Union’s 1,300 members will join Frontwave’s more than 120,000 members by the end of 2022, and all Barstow Community Credit Union employees will also become Frontwave employees, the credit union said.