Major Merger Between Two San Diego Credit Unions

The merger of San Diego County Credit Union and California Coast Credit Union brings together a strong financial future.

News Summary

San Diego County Credit Union and California Coast Credit Union have announced their plans to merge, creating a powerhouse with $13.5 billion in assets. This merger will retain all branches, providing job security for over 1,400 employees and enhancing services for members across Southern California. Credit union members will need to vote for the merger, expected to finalize in early 2026, with full integration continuing into 2027. Excitement is palpable as the community anticipates the benefits of this historic union.

Big News for Credit Union Members in San Diego!

San Diego is buzzing with excitement as two well-known credit unions, San Diego County Credit Union (SDCCU) and California Coast Credit Union (Cal Coast), announce their plans to merge. This partnership is set to shake up the landscape of credit unions in California, and many are eager to see how it will unfold!

A New Powerhouse in the Making

Once the merger is complete, the combined institution will operate under the trusty California Coast Credit Union name. With nearly $13.5 billion in total assets, this newly formed credit union will proudly claim the title of the fourth largest in the Golden State. Imagine all that financial power coming together in one place!

Standing Strong with Employees

An important aspect of this merger is that it will provide jobs for over 1,400 individuals. Credit union leaders have made it clear that they will ensure no branches will close as a result of this merger, which is great news for both employees and members alike. The merged credit union is also focused on retaining its talented workforce and continuing to offer growth opportunities. So, if you work for either organization, you can breathe a little easier during this transition!

Branch Availability Across SoCal

This new credit union will have an impressive 65 branch locations across Southern California. From Imperial to Los Angeles, and from Orange to Riverside—there is no doubt that the community impact of this merger will be vast! Members in San Bernardino, San Diego, San Luis Obispo, Santa Barbara, and Ventura counties can look forward to enhanced services and support moving forward.

What Comes Next?

Before the merger can officially take effect, it needs the green light from the California Department of Financial Protection and Innovation. To add another layer to the process, members of Cal Coast Credit Union must vote in favor of the merger. If everything goes smoothly, the legal completion of the merger is expected to arrive in early 2026. Meanwhile, the full integration of both organizations will carry on into 2027, so stay tuned for updates!

A Brief History of Our Credit Unions

SDCCU has been a staple in the San Diego area since its inception in 1938. It serves over 428,000 members through its 39 branches located in San Diego, Riverside, and Orange counties. On the other hand, Cal Coast originates from noble beginnings in 1929, founded by teachers, and currently serves over 200,000 members with 27 branch locations and an additional 60 shared branches via the CO-OP network.

Leadership Changes Ahead

After the merger, Todd Lane, currently the president and CEO of Cal Coast, will take the reins as the combined credit union’s new leader. Meanwhile, Teresa Campbell, the president and CEO of SDCCU, has announced plans to retire once the merger wraps up. With fresh leadership on board, many members are excited about the direction this credit union will take in the future.

Looking Out for Members

Rest assured that both credit unions are dedicated to keeping their members informed throughout the merger process. They will share ongoing updates through their websites and communication channels to ensure everyone is on the same page. However, it’s also a good idea for members to stay alert for potential phishing scams related to the merger—you can never be too careful!

A Bright Future Ahead!

With this merger, both SDCCU and Cal Coast aim to enhance member and employee value while significantly impacting the community. It’s an exciting time for credit union members in San Diego and beyond, with many looking forward to what changes this new powerhouse will bring. If you’re a member of either credit union, hang onto your hats – exciting times are on the horizon!