Chetco Federal Credit Union’s Crescent City Branch and California Members to be Acquired by Coast Central
CRESCENT CITY – On December 28, 2012, the National Credit Union Administration (NCUA) announced that they have selected Coast Central Credit Union to purchase and assume the Crescent City branch and California memberships of Chetco Federal Credit Union. The NCUA placed Chetco into conservatorship on September 23, 2011 in order to protect the financial stability and safe-and-sound operations of the credit union. The NCUA has been working since September of 2011 to find a solution that was in the best interest for Chetco’s members and ensured continued credit union service to the North Coast of California.
Coast Central Credit Union is looking forward to serving its new members. Dean G. Christensen, President/CEO of Coast Central Credit Union stated that “we welcome former Chetco members into our Coast Central family and we pledge to do everything we can to ensure that the transition of their accounts into Coast Central will be as smooth as possible. On January 2, 2013, Coast Central will be consolidating its present office and the Chetco office into one location at 660 L Street and Chetco members can immediately take advantage of Coast Central’s excellent suite of products and services as well as the high quality of service we deliver.” As Chetco members transition to become Coast Central members, their deposits will remain insured by the National Credit Union Share Insurance Fund up to $250,000. Coast Central will be adding some of the former Chetco employees to its Crescent City staff.