Two California-Based CUs Announce Merger
The merger is the third for UNCLE Credit Union in the past four years.
UNCLE Credit Union, headquartered in Livermore, Calif., has taken control of the operations of Moore West Federal Credit Union located 30 miles to the west in San Leandro. The merger announced Wednesday marked the third such assumption of a credit union by UNCLE since 2018.
According to UNCLE ($650 million in assets, 32,569 members), its operational control of Moore West ($16.3 million in assets, 794 members) allows UNCLE to expand its presence in the East Bay region of California’s Bay Area.
“The opportunity to expand further into Alameda County was an easy win for UNCLE Credit Union, as we already service so many members within that county,” Harold Roundtree, president/CEO of UNCLE, said. “Ultimately, it was the best outcome for both credit unions, and an opportunity for members to get the most out of their membership.”
According to a statement Wednesday from UNCLE, merging smaller credit unions into its field of membership has been a key strategic move “to ensure the long-term viability of the credit union” and create a better value to its members.
The merger process began on July 1, 2022 and system integration between the two credit unions was completed on Oct. 1, according to the statement.
In an online message to new members, Roundtree stated, “The employees at MWFCU will remain at the San Leandro location and become UNCLE CU employees.”