July 25, 2016
Santa Rosa, Calif. –– Not-for-profit financial cooperatives Mendo Lake Credit Union and Community First Credit Union merged on July 1. The newly combined credit union boasts –– through June 30 –– a loan portfolio of $312.5 million, deposits of $414.2 million, and assets of $457.7 million.
The ongoing name will be Community First. There are 10 branch offices spread among Lake, Mendocino, Napa and Sonoma counties. The cooperative is owned by its 50,777 members, who are served by 126 employees. Community First CEO, Todd Sheffield, will remain in his post at headquarters in Santa Rosa.
Santa Rosa, Calif. –– Two local credit unions, Mendo Lake and Community First, have agreed to merge, creating a community-based cooperative with greater value and more convenience for their members.
“By combining, we make the financial cooperative the perfect size. We’ll be big enough to take advantage of the latest electronic conveniences for members, but small enough to maintain the personal service our members appreciate,” Community First CEO Todd Sheffield said. Together, the combined not-for-profit financial cooperative will have assets of $423 million and a membership of nearly 48,000.