Pasadena-Based Wescom Credit Union and Central Coast Federal Credit Union Announce Plans to Merge in 2024

Pasadena-headquartered Wescom Credit Union and Central Coast Federal Credit Union (CCFCU) announced early Tuesday their intent to merge in the second quarter of 2024, pending regulatory approval and a vote from the CCFCU membership. The merger is expected to benefit the combined 240,000 members, nearly 900 team members, and the communities served by both credit unions.

Upon merger, CCFCU’s four retail branches would convert to Wescom branches, expanding the Wescom footprint to 28 branches and facilitating entry and growth into a new geographic region. 

CCFCU’s nearly 15,000 members throughout Monterey County would be welcomed as Wescom members and will have access to robust online and mobile banking products, 24 branches throughout Southern California (and growing), and a full range of banking products and services. 

Additionally, CCFCU employees will be welcomed as Wescom team members and will be provided with a wide range of benefits, training resources, and tools.

“Given our commitment to delivering innovative products and services, the value we are able to pass to our membership through better rates, lower fees, robust access channels, and our unwavering focus on member service, we believe that we have the ability to expand our reach with this merger and build better lives for more Californians,” stated Darren Williams, President and CEO of Wescom. “Pending regulatory approval and a vote from the CCFCU membership, we believe this is a perfect union and will benefit our combined 240,000 members, soon to be nearly 900 team members, and the communities we serve.”

Leinette Limtiaco, President and CEO of CCFCU said ““We couldn’t be more excited for this next stage of growth for CCFCU. For more than 70 years, we have been committed to providing residents of Monterey County with valuable, personal banking services. That member-first focus enables us to seek strategic opportunities to improve the everyday banking needs of our members. This merger with Wescom will allow us to provide our members with a greater depth of product, technologies, access channels, and service.”

Over the past few years, Wescom has been exploring potential merger opportunities to support the growth of the Credit Union. This merger will allow CCFCU’s members access to better banking and Wescom the opportunity to enter a new market and further its growth in the California market, the company said.