Two California CUs Announce Plans to Merge
Frontwave CU and Barstow Community CU expect to complete the merger by the end of the year.
Members of the Barstow, Calif.-based Barstow Community Credit Union voted to merge with their credit union neighbor, Frontwave Credit Union of Oceanside, Calif.
According to Monday’s announcement, and if all goes as planned, the $6.4 million Barstow Community will join the $1.2 billion Frontwave by the end of 2022.
In a statement from Barstow Community, its members “will gain access to 13 additional branch locations throughout Southern California, as well as lower loan rates, and expanded product and service offerings, including mortgage loans, money market accounts, insurance and investment services.”
“We are excited to welcome Barstow Community Credit Union members to the Frontwave crew,” Bill Birnie, president/CEO of Frontwave, said. “Having served the Barstow community for decades, we understand the unique needs these members have, and are thrilled to be able to offer them even more solutions to help make their financial dreams come true.”
The announcement stated that all Barstow Community employees will be absorbed into Frontwave once the merger is completed. “Additional details of the merger are still being finalized,” the statement read.
Frontwave currently serves 118,403 members, while Barstow Community serves 1,333 members.