Vallejo Schools FCU, 1st Pacific CU Merge

VALLEJO, Calif. – Vallejo Schools Federal Credit Union and 1st Pacific Credit Union have merged effective March 1, 2005. The new “Vallejo Schools” branch of 1st Pacific Credit Union will open at 145 Valle Vista Avenue and will be the primary branch for Vallejo Schools’ employees. Given how recent financial problems of the Vallejo School District adversely affected many Vallejo Schools FCU members and presented a potential strain on the ability to grow and continue to serve its members, Vallejo Schools FCU CEO Sue Trapani recognized a need for change in order to put the needs of members first. “Joining 1st Pacific Credit Union allows us to continue offering competitive rates to our members and even expand our offering of products,” said Trapani. “The transition will be relatively transparent to members, except that they will have access to more branches and additional services including 24-hour automated telephone service.” 1st Pacific CU CEO Larry Tierney adds, “We are pleased to have a new branch that is staffed by the employees of Vallejo Schools FCU and convenient for all our members. Our “members come first” philosophy is directing this merger. We foresee a smooth transition in the short-term and the addition of products and services in the future. We look forward to serving the needs of our newest members.” Vallejo Schools FCU has $10 million in assets and serves 1,927 members. 1st Pacific CU has $141 million in assets and serves some 20,099 members.