SAN FRANCISCO – San Francisco Fire CU has completed the acquisition of Bay Media FCU, a troubled credit union for San Francisco Chronicle employees and the latest newspaper employees’ credit union to run out of black ink.

The latest edition of Bay Media, a one-time $26-million credit union, included losses of $360,000 for the first three quarters of 2012 and of $500,000 for 2011, and assets of less than $13 million.

The $700-million San Francisco Fire adds Bay Media’s downtown Mint Plaza branch as its fourth service facility as a result of the merger.

Bay Media joins credit unions serving the Boston Globe, New Orleans Times-Picayune, Arizona Republic, Charleston (W.Va.) Daily Mail, Madison (Wis.) State Capitol Times, the Twin-Falls, Idaho Times-News, and others, being merged out the past three years.

 

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