Source: Shutterstock.
For the second time in less than three weeks, a credit union merger has been called off.
On Friday, the $415 million LA Financial Federal Credit Union in Pasadena, Calif. and the $888 million Ventura County Credit Union in Ventura. Calif., called off their proposed consolidation after "many discussions and much due diligence."
Recommended For You
The talks ended amicably, according to a joint press release.
In September, the proposed merger between the $333 million Infinity Federal Credit Union in Westbrook, Maine and the $753 million Vibrant Credit Union in Moline, Ill., had been called off after the due diligence process revealed some important differences making it evident that the integration was simply not a good fit.
Those differences were not specified, and LA Financial and Ventura County did not give any specific reasons as to why the consolidation that would have created another billion-dollar California cooperative had been dropped.
"Although our merger discussions did not lead to a combined credit union, we wish LAFCU tremendous success," Joe Schroeder, VCCU President/CEO said, in a prepared statement.
LAFCU President/CEO Carol Galizia also wished VCCU the very best in the future and is keeping the door open for collaboration.
"As independent financial institutions, we will still collaborate for the good of all we serve," she said in a prepared statement. "Each credit union offers many unique strengths, and we will continue to share our expertise to help each other thrive."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
