Visterra Credit Union and Credit Union of Southern California Announce Merger Plan
to form $1 Billion+ Credit Union
MORENO VALLEY, CA (April 17, 2008) — Visterra Credit Union (Visterra) and Credit Union of Southern California (CU SoCal) announced plans today to merge, pending approval by state and federal regulators and members of CU SoCal.
The newly combined organization will be over $1 billion in assets (among the top 150 credit unions in the nation), be well capitalized, operate under the name of Visterra Credit Union, and will continue to be headquartered in Moreno Valley. Dave Gunderson, CU SoCal’s current President/CEO, will lead Visterra as the new Chief Executive Officer. Robert Cameron, Visterra’s current President/CEO, will become the new President.
Robert Cameron stated, “This partnership is a proactive step to provide more value to members. It is clear that combining our strengths will bring enormous opportunities to our members and staff both now and in the future.”
According to Gunderson, “Both organizations are financially strong, well-run and growing. Combining the two will result in a thriving credit union with over $1 billion in assets, 86,000 members, 11 branches and a solid vision to add value to our member-owners. Furthermore, the economies of scale which will result from this partnership will provide the financial resources to offer members more competitive rates, enhanced technology, expanded products and services and additional convenient branches and ATMs.”
Gunderson stated, “We are enthusiastic about the enhanced benefits a merger of this magnitude will provide our members, employees and the communities we serve. All staff from both credit unions will continue to be employed by the new organization. This continuity of employees will help to ensure that members retain the world-class service they enjoy and the partnership will bring greater potential for employee career advancement and a thriving culture.”
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About Visterra Credit Union
Visterra Credit Union is a 55-year strong, $466 million credit union serving 43,000 members located in the heart of Riverside County. Membership is open to anyone who lives, works or attends school in Riverside County.
About Credit Union of Southern California
Established in 1954, Credit Union of Southern California is Los Angeles County’s 19
th largest credit union and has 43,000 members and more than $500 million in assets. The credit union serves those who live, work, attend school, or worship in the San Gabriel Valley, Orange County and the cities in between.
714-671-2700
www.cusocal.org
Visterra Credit Union announces opening of 5th branch in Moreno Valley
Moreno Valley, CA. – January 23, 2007. Visterra Credit Union has opened their 5th branch at 27130 Eucalyptus Avenue, Moreno Valley. The branch is located in the Stoneridge Towne Centre anchored by Super Target off the Nason Exit of the CA 60 highway. This is the second Moreno Valley location for Visterra CU. Business hours are Monday through Thursday 9:00a.m. to 5:00p.m., Friday 9:00a.m. to 6:00p.m., and Saturday 9:00a.m. to 2:00p.m. The branch features 2 walk-up ATMs and a night deposit box.
A Grand Opening celebration is planned for Saturday, March 1st from 10 a.m. – 1 p.m. Events include: prizes, raffles, special offers, food, and fun for the whole family. Many special offers will also be available throughout the month of March. For more information call 951-656-4411 or visit www.visterracu.org.
During the month of March, all membership fees collected at the Stoneridge branch will be donated to Moreno Valley’s Promise, a member of The Alliance for Youth founded in 1997, which challenges the nation to make children and youth a national priority. Moreno Valley’s Community of Promise goal is to strengthen the confidence, competence, and character of youth and to inspire and motivate them to achieve their full potential through the delivery of The Five Promises. The Five Promises are: 1) Caring adults, 2) Safe Places, 3) A healthy start, 4) Effective Communication, and 5) Opportunities to help others. For more information on Moreno Valley’s Promise, visit http://www.morenovalleyspromise.org/.
Visterra Credit Union and United We Paint Awards Moreno Elementary School A Free Exterior Makeover
MORENO VALLEY, CA – (October 9, 2007) – Visterra Credit Union, in partnership with United We Paint, is providing the financial and employee resources to award a free exterior beautification makeover to Moreno Elementary School. Traveling from across the Inland Empire, members and employees of Visterra Credit Union are joining families, friends, teachers, and students on Saturday, October 20th for the exterior makeover event.
Beginning at 8 a.m. and ending at 3 p.m., volunteers with brushes, ladders, landscaping equipment, brooms and supplies in hand, will paint and landscape Moreno Elementary School. Local residents are encouraged to unite with Visterra Credit Union employees and members to volunteer.
United We Paint is an organization devoted to helping those less fortunate by providing children and families better educational environments through free exterior beautification makeovers. Visterra Credit Union selected Moreno Elementary School beautification to continue its community outreach efforts of helping children and teachers.
Charlie Hale, VP of Marketing for Visterra Credit Union explains, “Our heartfelt commitment to education is steadfast and our partnership with United We Paint allows our credit union to provide a better educational environment for students and devoted teachers that we serve everyday. We continue to extend our reach into the educational community by providing this free school makeover. I am excited to join our employees, members, community leaders, and local residents in picking up brushes and rolling up our sleeves to give back to our local community.”
Volunteers receive an official volunteer certificate and pictures memorializing their experience.
Individuals or groups interested in volunteering can register today at unitedwepaint.org or call United We Paint at 888-510-JOIN for more information. Volunteer deadline is Thursday, October 18th. Volunteers receive lunch, beverages, snacks, and entertainment. Children more than 14 years of age are welcome with parental supervision.
Executive Director Jeff Zotara states, “United We Paint is proud to partner with Visterra Credit Union to serve our community. Throughout the history of United We Paint we have sought to serve the health and welfare of children and find the most deserving candidates. We felt this opportunity was ideal for Visterra Credit Union employees and members to demonstrate the credit union mantra of people helping people. The beautification effort creates not only a more inviting educational environment for a public school, but instills hope and a sense of community to the surrounding neighborhood.”
The October 20th event is open to all.
Date: Saturday, October 20th
Time: 8 a.m. – 3 p.m.
Place: Moreno Elementary (26700 Cottonwood Ave., Moreno Valley, CA)
Press is welcome to attend from 8:00 a.m. until 3:00 p.m.
To arrange interviews please contact Jeff Zotara, Next Wave Public Relations at 760-855-8858.
VISTERRA CREDIT UNION HOSTS A MORENO VALLEY COMMUNITY BLOOD DRIVE
MORENO VALLEY, CA. – Monday, June 25, 2007, Visterra Credit Union, 23540 Cactus Avenue, Moreno Valley, CA.
Visterra Credit Union will be hosting a Community Blood Drive at their Moreno Valley branch on Tuesday, June 26th from 8:00am – 3:00pm. The branch is located on the corners of Cactus and Graham. The Blood Drive helps give patients a hope for a healthier and happier tomorrow. For additional information about the Blood Bank of San Bernardino and Riverside Counties, visit www.bbsbrc.org for details.
IMPROVED FINANCIAL CHOICE IN RIVERSIDE
MORENO VALLEY, CA, June 11, 2007, Visterra Credit Union, 23540 Cactus Avenue, Moreno Valley, CA.
There is a new choice for banking in Riverside. Visterra Credit Union has opened a new branch at 8543 Indiana Avenue, formerly Raincross Credit Union next to Walters Mercedes Used Car Sales. Business hours are Monday through Thursday 9:00a.m. to 5:00p.m., Friday 9:00a.m. to 6:00p.m., and Saturday 9:00a.m. to 2:00p.m. The branch features two drive-up ATMs and offers members a host of products and services.
A Grand Opening celebration is planned for Saturday, June 23rd from 10a.m. to 2p.m. Events include prizes, raffles, special offers, food, and fun for the whole family. Many special offers will be available until the end of June at the Riverside branch. For more information call 951-656-4411 and asked to be transferred to our Riverside branch.
During the month of June, half of all membership fees collected at the Riverside branch will be donated to Riverside Sheriff’s Association (RSA). An organization that prides itself in its active role throughout the community, RSA supports a number of charitable organizations including its very own Debbie Chisholm Memorial Foundation. Visterra Credit Union strongly supports and is equally proud to contribute to this foundation, one that is dedicated to granting wishes to terminally and catastrophically ill children within Riverside County.
NEW HOME FORTUNES PROGRAM OFFERS CASH REBATES ON REAL ESTATE AGENTS COMMISSION
MORENO VALLEY, CA. – February 20, Visterra Credit Union, 23540 Cactus Avenue, Moreno Valley, CA.
Visterra Credit Union recently rolled out a new program to their members providing one-stop service, expert and professional assistance and a cash rebate equal to 25% of the agent’s own commission to members who buy or sell a home using their new Home Fortunes program. Offered in combination with Visterra Credit Union’s own real estate financing services, the new program provides members a value-added package not available from any other source.
“We recognize that a real estate transaction can be complicated and our members may not have time to focus on given their business professional lives,” said Donna Palmer, Real Estate Loan Manager at Visterra Credit Union. “That’s why we’re offering our members a one-stop program that includes everything they need to buy and sell a home, while earning a cash rebate in the process.”
The program is made possible through a special arrangement with HomeSold, a division of Fidelity National Financial, the nation’s largest provider of title insurance and related services.
The participating real estate agents in Home Fortunes have been hand-picked by HomeSold, and meet stringent criteria for experience and dedication to providing quality and responsive customer service. Agents who do not meet minimum standards for service performance are not considered for participation in future transactions, according to HomeSold.
To learn more about becoming a member of Visterra Credit Union and their Home Fortunes program, and to access the many information resources available through Home Fortunes, visit www.visterracu.org
VISTERRA CREDIT UNION WINS PRESTIGIOUS AWARDS
MORENO VALLEY, CA. – January 5, 2007, Visterra Credit Union, 23540 Cactus Avenue, Moreno Valley, CA.
Visterra Credit Union was recently notified of being selected as a winner of a prestigious CUES Golden Mirror Award for logo design. The Credit Union Executive Society, (CUES) is a Wisconsin-based, independent membership association for credit union executives worldwide. Its mission is to advance the professional development of credit union CEO’s, senior management, and directors. Visterra CU’s new logo was a direct result of the Credit Union’s name change in early 2006 from March Community to Visterra Credit Union. The new modernistic trademarked logo conveys action and captures feelings of ascending into the sky, reminiscent of this CU’s heritage with the United States Air Force. It also plays upon the first letter of the new name, it is easily recognized and remembered, and it incites a call to action. Weber Marketing Group located in Seattle, WA was the creative firm assisting in the design efforts.
