Two of the largest credit unions serving the San Diego area announced plans to merge on Friday, with the San Diego County Credit Union becoming part of Cal Coast Credit Union.
If approved by Cal Coast members, the combined credit union would have assets of $13.5 billion, 65 branch locations, and more than 1,400 employees.
The combined organization would be the fourth largest credit union in California and the 16th largest in the nation. It would serve members in Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara and Ventura counties.
After the merger is complete in early 2026, the combined credit union would take the Cal Coast name, and Cal Coast President and CEO Todd Lane will become the president and CEO of the combined organization. SDCCU President and CEO Teresa Campbell will retire.
“This merger creates a partnership between two large service-oriented and financially strong credit unions with deep, rich histories throughout Southern California,” said Campbell. “Together, we can offer members, employees, and the communities we serve access through expanded branches and ATMs, plus a stronger, more resilient organization that is ready and able to embrace the evolving financial services landscape.”
Lane said, “The member and employee value resulting from this combination of our financially strong organizations is outstanding. Together, our joint strengths position us to achieve greater success and provide even greater opportunity to expand our community impact.
“Additionally, no jobs will be lost as a result of the merger as both organizations are committed to retaining talent and providing opportunity for growth,” he said.
There will be no immediate change for credit union members as both organizations will operate independently until the merger, which is expected in early 2026, with full systems integration extending into 2027.
SDCCU is San Diego’s largest locally-owned financial institution. It was originally chartered in 1938 as San Diego County Employees Credit Union.
Cal Coast is the longest-serving financial institution in San Diego. The credit union originated by teachers in 1929.
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