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Chabot Federal Credit Union & University Credit Union Announce Plans to Merge
Merger Represents Exciting New Opportunities For Member-Owners
Los Angeles, California: To ensure continued and exceptional service for its members,�Chabot Federal Credit Union (CFCU) has announced plans to merge with another CU�serving the higher education community, industry-leader University Credit Union�(UCU). The merger is significant for its expansion of financial services and support to�university and college campus communities across the state of California. [caption id="attachment_1463" align="alignleft" width="108"]
Christine Petro[/caption]
?We hope to combine our resources with a credit union that mirrors our long history of�helping people achieve their financial goals,? Chabot FCU CEO Christine Petro says.�?This proposed merger will allow us to maximize our efficiencies, enabling us to�enhance products and delivery channels to our members, while retaining our entire�team, our programs and services, and our existing location.?
CFCU began searching for a prospective partner in 2020. UCU?s dedication to its�members, the extensive breadth of their traditional and electronic services, and its�historical success serving college communities made it an obvious best choice.
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David Tuyo[/caption]
Chabot FCU members will have the opportunity to vote on the merger by September�14th. Petro and the Chabot FCU Board are expecting a positive response.�?We are proud and excited to have CFCU join us in this marquis partnership,? Dr. David�Tuyo II, CEO of University Credit Union says. ?The combined entity will enable our team�to provide more accessibility to a suite of comprehensive financial services for all�members, as we unite to ensure that university and college communities are fully�supported in all areas of financial concern.?
Petro stated she looks forward to sharing more information with the Chabot Federal�Credit Union family, and the surrounding public. If approved by Chabot FCU members,�the merger is anticipated to be finalized by Q4 of 2021.
About Chabot Federal Credit Union:
Chabot Federal Credit Union is a member-owned financial�cooperative providing financial services to approximately 1,650 members. Headquartered in�Dublin, Calif., the credit union serves Chabot College, Las Positas College, the Chabot Las�Positas Community College District, the City of Hayward and several select employers in Dublin,
CA. To find out more visit us at ChabotFCU.com.
About University Credit Union: University Credit Union, a federally-insured financial cooperative,�was founded in 1951 on UCLA's campus by faculty and staff. Serving more than 40,000�members, UCU has become a leading credit union in the United States. UCU is guided by a�board of directors, comprised only of faculty, staff and alumni of the university community.�UCU?s core purpose is to give members a financial advantage in life, and with their promise to
advocate, educate and innovate, UCU is an industry-leading financial partner to university�communities.
www.UCU.org