Los Alamitos, CA (February 12, 2024) |
Southland Credit Union and Allied Healthcare Federal Credit Union have announced their intent to merge in 2024.
Founded in 1936, Southland Credit Union has served the Southern California community for 87 years. Today, Southland is a top-performing credit union with more than $1 billion in assets offering a full-spectrum of financial services.
The merger, subject to membership approval, was approved by regulators and unanimously approved by both credit unions’ board of directors. The merger would be effective May 1, 2024.
“Both Southland and Allied Healthcare share the common goal of empowering our Members to achieve their financial goals,” said Bradley Silcox, Board Chairperson for Southland Credit Union. “This merger is a perfect fit as both credit unions have a shared history serving healthcare employees.”
Larry Matejka, Board Chairperson for Allied Healthcare Federal Credit Union, championed the merger in a statement to Members. “This merger will result in a wider variety of competitive services, products and conveniences.” said Matejka. “Beyond these immediate benefits, this merger will combine two established organizations that share similar values and a commitment to their members, people and culture.”
Allied Healthcare and Southland will continue to act as independent credit unions until the merger has received final membership approval. The combined credit union will be named Southland Credit Union and it will retain all of Allied Healthcare’s staff and branches. Thomas Lent will be the President & CEO of the combined credit union, which will serve over 69,000 Members with assets over $1.2 billion.