San
Diego,
CA,
April
11,
2025
–(PR.com)– In
a
move
that
would
change
the
financial
landscape
of
Southern
California,
California
Coast
Credit
Union
(Cal
Coast)
and
San
Diego
County
Credit
Union
(SDCCU)
have
announced
plans
to
merge,
pending
regulatory
approval
and
a
Cal
Coast
membership
vote.
Upon
approval,
the
combined
credit
union
will
boast
a
powerhouse
organization
with
assets
totaling
nearly
$13.5
billion,
65
branch
locations,
and
more
than
1,400
employees
serving
members
in
Imperial,
Los
Angeles,
Orange,
Riverside,
San
Bernardino,
San
Diego,
San
Luis
Obispo,
Santa
Barbara,
and
Ventura
counties.
The
organization
will
remain
the
fourth
largest
credit
union
in
the
state
and
become
the
16th
largest
in
the
nation.
“This
merger
creates
a
partnership
between
two
large
service-oriented
and
financially
strong
credit
unions
with
deep,
rich
histories
throughout
Southern
California,”
said
Teresa
Campbell,
president
and
CEO
of
SDCCU.
“Together,
we
can
offer
members,
employees,
and
the
communities
we
serve
access
through
expanded
branches
and
ATMs,
plus
a
stronger,
more
resilient
organization
that
is
ready
and
able
to
embrace
the
evolving
financial
services
landscape.”
Todd
Lane,
President
and
CEO
of
Cal
Coast,
agreed.
“Since
our
organization’s
inception,
the
credit
union’s
vision
has
been
to
foster
a
culture
of
service
and
commitment
to
the
community
that
our
members
are
proud
of,”
Lane
said.
“The
member
and
employee
value
resulting
from
this
combination
of
our
financially
strong
organizations
is
outstanding.
Together,
our
joint
strengths
position
us
to
achieve
greater
success
and
provide
even
greater
opportunity
to
expand
our
community
impact.
Additionally,
no
jobs
will
be
lost
as
a
result
of
the
merger
as
both
organizations
are
committed
to
retaining
talent
and
providing
opportunity
for
growth.”
There
will
be
no
immediate
change
for
members
as
both
organizations
will
operate
independently
until
the
legal
date
of
merger.
The
expected
legal
date
of
merger
is
early
2026,
with
full
systems
integration
extending
into
2027.
As
of
merger
date,
the
combined
credit
union
will
retain
the
California
Coast
Credit
Union
name
and
Todd
Lane
will
become
the
President
and
CEO
of
the
combined
organization
concurrent
with
Teresa
Campbell’s
retirement.
As
both
cooperatives
operate
under
the
guidelines
of
the
National
Credit
Union
Administration
and
the
State
of
California
Department
of
Financial
Protection
and
Innovation,
full
merger
approval
is
contingent
upon
California
Coast
Credit
Union’s
membership
vote.
As
the
process
moves
forward,
both
credit
unions
will
provide
information
to
their
respective
memberships
via
their
websites,
and
other
applicable
communication
channels.
About
San
Diego
County
Credit
Union
San
Diego
County
Credit
Union
is
San
Diego’s
largest
locally-owned
financial
institution.
Originally
chartered
in
1938
as
San
Diego
County
Employees
Credit
Union,
SDCCU
was
formed
to
provide
for
the
financial
needs
of
local
county
government
employees.
During
the
1970s,
SDCCU
expanded
its
membership
to
include
all
San
Diegans
and
today,
is
open
to
everyone
living
or
working
throughout
Southern
California:
Imperial,
Los
Angeles,
Orange,
Riverside,
San
Bernardino,
San
Diego,
San
Luis
Obispo,
Santa
Barbara,
or
Ventura
counties.
SDCCU
serves
over
428,000
members
with
39
branch
locations
in
San
Diego,
Riverside,
and
Orange
counties.
SDCCU
was
ranked
a
top
credit
union
in
California
in
2024
by
Forbes
and
is
proud
to
have
been
voted
Best
Credit
Union
25
years
straight
in
the
San
Diego’s
BEST
Union-Tribune
Readers
Poll.
SDCCU
also
has
been
voted
multiple
times
Best
Mortgage
Home
Loan
Lender,
Best
Financial
Planner,
Best
Auto
Loan
Provider,
and
Best
Place
to
Work
in
addition
to
receiving
numerous
other
community
and
industry
awards
for
strong
financial
performance
and
community
involvement.
For
more
information,
visit:
www.sdccu.com/merger
About
California
Coast
Credit
Union
California
Coast
Credit
Union
is
the
longest-serving
financial
institution
in
San
Diego.
The
credit
union
originated
by
teachers
in
1929
and
continues
to
support
local
educators,
schools
and
universities
through
financial
wellness
initiatives,
Cal
Coast
Cares
community
events
and
its
non-profit,
the
Cal
Coast
Cares
Foundation.
Cal
Coast
has
been
honored
with
numerous
community
and
industry
awards,
including
those
related
to
community
support
and
volunteerism
as
well
as
financial
performance.
Today,
Cal
Coast
has
grown
to
more
than
$3.4
billion
in
assets,
serving
over
200,000
members
with
27
branches,
60
shared
branch
locations,
online
and
mobile
banking
and
30,000
fee-free
ATMs
nationwide.
Membership
is
open
to
anyone
who
lives,
works,
or
worships
in
Imperial,
Los
Angeles,
Orange,
Riverside,
San
Bernardino,
San
Diego,
or
Ventura
counties.
For
more
information,
visit
www.calcoastcu.org/merger