SACRAMENTO, Calif. – Two additional troubled credit unions have agreed to separate mergers, as the clean-up of the state’s credit union market continues.

In one, Valley First CU, a $415 million Modesto credit union, has applied to acquire State Center CU, a one-time $90 million Fresno credit union worth that has reported losses for five straight years.

In the other, Community First CU, a $145 million Santa Rose credit union, has asked state regulators for permission to acquire Health Care Professionals of Napa FCU, a $6 million credit union with $3.9% net worth that reported a loss of $210,000 for 2011 and a loss of $206,000 for the first three quarters of 2012.

 

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