California-based SCE FCU will be gaining its first toehold in the Nevada market through its proposed merger of the ailing $56 million SONEPCO FCU of Las Vegas.
The $500 million SCE, based in Irwindale and part of metro Los Angeles, said it had been discussing a consolidation with SONEPCO "for more than a year."
Among Nevada CUs, SONEPCO has long been rumored to be looking for a partner. The CU lost $1.6 million in the first quarter and has 4.2% net worth.
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