LOS ALAMITOS, Calif.–Two California credit unions have announced merger plans. The $600-million Southland Credit Union and the $118-million Harbor FCU said they will combine operations on Jan. 1, 2017.
In a statement, Walter Finnigan, chairman of Southland, said the merger “would leverage the exceptional talent of Harbor’s staff and the strength of Southland’s 80-year history of member service. We are pleased that Harbor and Southland have partnered to create one of the strongest credit unions in Southern California. Our combined credit union will allow for increased operational efficiencies, which will ultimately benefit the member with additional products and increased convenience.”
The combined credit union will be named Southland Credit Union and it will retain all of Harbor’s staff and its branch, located in Carson, Calif. Thomas Lent will be the president/CEO of the combined credit union, which will serve over 65,000 members with assets over $700 million.