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Merger Updates

We are excited to announce that the merger between Pasadena Service Federal Credit Union (PSFCU) and Pasadena Federal Credit Union (PFCU) has been formally approved by the membership and finalized by the NCUA as of March 1, 2024. 

Several steps must follow before the expanded credit union can begin serving the combined membership. On this page, you will find the most current information regarding upcoming changes. You can also access FAQs and discussion topics that may address any questions or concerns you may have following the finalization of this merger. 

  • PFCU and PSFCU are now one entity. Beginning March 2024, PSFCU will include this tradename: “Pasadena Service Federal Credit Union, a division of Pasadena Federal Credit Union" in their signage, greetings, documents, email, and other materials.
  • We now continue work to integrate banking systems, with a goal of having our systems fully integrated by the end of 2024 or early 2025. This timeframe is reasonable to create the best merger experience for members and to ensure that employees are supported in this change as well.
  • As system integration nears, members will receive up-to-date communications and resources. We will provide detailed information regarding any changes to your accounts, important dates, and more, and will walk you through any steps you need to follow. Again, changes are not expected for members for some time yet.
  • If you are a member of both credit unions already, you’ll need to note that our systems are not yet joined. You will not be able to transact between your PFCU and PSFCU accounts through online banking, with the app, or in the branch.
  • However, you can continue to perform a wide range of transactions such as deposits and withdrawals, make loan payments, and transfer money since both credit unions are part of the Co-op Shared Branch network.
  • We understand that many of our respective members who are not members of both credit unions are eager to begin transacting from any PFCU and PSFCU locations because it may be convenient—you may live, work, or play near one of these branches in your area. We greatly appreciate your patience. We will communicate often about when you may expect to visit one of these new-to-you locations.

What does this merger mean for members?
The strategic merger between Pasadena Service FCU and Pasadena FCU will provide the opportunity to achieve more positive member impact and value such as:

More member access: Eventually, the larger branch footprint will allow us to have more impact on existing members. Beyond that, through this partnership, we’ll be able to serve more people and provide them with access to top-notch financial products and services.

More branch locations: In late 2024 or early 2025, together we’ll be serving you from 3 locations throughout Pasadena and in the city of Bell Gardens.
Products/Services: Once we’ve combined systems, as a larger organization, we’ll ultimately gain economies of scale which will allow us to offer a more robust product and service line, reduce costs, and return more value in the form of products, services, rates, fees, and community involvement to existing and future members.

More Responsive to Evolving Financial Needs: This partnership will allow the credit union to better anticipate and meet the financial needs of members in a competitive financial services industry.

Enhanced Digital Banking Products: Looking ahead, this partnership will allow us to regularly assess and improve our technology solutions and make sure we’re providing the best digital banking solutions possible for members now and into the future.

Same Knowledgeable, Friendly Employees: The same friendly staff you’ve come to know at our branches will continue to serve you.

Will my accounts be affected?
There will be no immediate effect on your accounts or account numbers at this time. As the integration of systems approaches, Pasadena Service Federal Credit Union will be converting to Pasadena Federal Credit Union’s core operating system to enhance capabilities. This is still underway and will not occur until sometime in late 2024. As that time approaches, the credit union will work to ensure a seamless integration and will communicate important dates, changes, and next steps to ensure members can continue to conduct business with minimal disruption.
We are happy to announce that Pasadena Service Federal Credit Union (PSFCU) members overwhelmingly approved the merger with Pasadena Federal Credit Union (PFCU) on February 22, 2024. We are anticipating NCUA approval by March 1, 2024.

Pasadena Service Federal Credit Union (PSFCU) will be sending qualifying members a formal merger member communication packet that will include information about the merger and the voting ballot. PSFCU members will have 45 days following the mailing to cast their vote. An independent balloting firm will ensure the election meets confidentiality and Credit Union Bylaw requirements.

On February 22, 2024, the PSFCU membership voting will culminate in a Special Meeting where members can meet with PSFCU leadership and cast their vote in person. 

We are sincerely thankful to everyone for their support and patience throughout the merger process and look forward to continuously serving our community. 

We are excited to share that the NCUA has approved the Pasadena Federal Credit Union (PFCU) merger with Pasadena Service Federal Credit Union (PSFCU). This is an important step towards the completion and finalizing of our merger. In the following weeks, Pasadena Service Federal Credit Union will be preparing for their membership to vote as the next step. A formal timeline will be shared soon.

For over 85 years, Pasadena Federal Credit Union (PFCU) has been serving its members and bringing value by offering personalized service, innovative technology, and access to robust products and services to help members achieve their financial goals.

On behalf of the Board of Directors and Leadership Team, we are excited to announce our plans to merge with Pasadena Service Federal Credit Union (PSFCU). Merging with PSFCU will allow us to continue acting in the best interest of our members by providing a wider range of products and services, more branches, more value, and more member and community giveback. Additionally, employees will benefit from being part of a larger organization by having access to additional career development opportunities.

While Pasadena Federal Credit Union is financially strong and healthy, the Board of Directors decided to explore a strategic partnership of the two credit unions as we look to our next chapter of growth and expansion.

This merger is not a “buy out” or “acquisition.” Both Credit Unions view this merger as a collaborative partnership between two financially strong credit unions committed to their members. The Boards of Directors and leadership of both credit unions recognize they can better serve the memberships of both credit unions together. 

The Board of Directors of each credit union has unanimously approved this partnership to create more value on multiple levels for both institutions, who share common roots in the communities in which they were originally founded to serve. Both credit unions are very excited about this merger and the benefits it brings to our members, employees, and our communities.

Each credit union will continue the due diligence process while obtaining regulatory approval from the National Credit Union Administration (NCUA).  

As the merger process continues, we will keep members informed of progress, including sharing important notices, dates, and events. For the most current information and FAQs, please visit our Merger Updates landing page on our website. You can also email if you have any additional questions or concerns.

We look forward to sharing this exciting new chapter with you and appreciate you for being a member of Pasadena Federal Credit Union.

Q: Why are you merging with Pasadena Service Federal Credit Union?

A: The Board has chosen a merger partner that is most aligned with our organization’s purpose, values and vision for the future. Like us, they have served the community for over 85 years and are committed to embracing diversity and prioritizing people over profits. Not only will Pasadena Federal Credit Union be financially stronger, but by combining our resources together, our staff can be more proactive and efficient in delivering the outstanding service members are used to. We will also be able to continuously invest in technology, security and employees—which are key components to future growth. Additionally, members will have access to more branch locations with potentially, more to come!

Q: Are both credit unions financially sound? Who is the continuing credit union?

A: Both credit unions are financially sound with net worth ratios that exceed regulatory requirements. Becoming a larger credit union with combined assets would provide opportunities to leverage resources, position us for growth, and increase efficiencies. Your volunteer Board of Directors has done its due diligence in evaluating this partnership. It has been decided that the continuing credit union will be Pasadena Federal Credit Union and the merging credit union will be Pasadena Service Federal Credit Union.

Q: What are the advantages of a larger organization?

A: The combined credit union, and consequently the members, will benefit from the economics of scale (including a combined entity totaling approximately $444 Million in assets and approximately 25,600 members), translating into lower operating costs by allowing such costs to be spread over a wider membership base. The two credit unions share similar values, a cultural commitment to personalized service and putting members’ needs first.

Q: What is the merger process and timeline?

A: The Board will need to complete their due diligence in reviewing this merger. This can take up to several months. Upon approval, members will be receiving an informational letter to their home address with detailed information regarding the merger.

To complete the merger process, we must receive approval from three sources: our Boards of Directors, our Regulators, and our members. As of Q2 of 2023, the Boards of both organizations have approved the merger. With this decision made, we are now in the process of getting regulatory approval. There is no additional information at this time. Please check back and visit our website for the most current updates.

Q: What do I gain?

A: More branch locations, convenient access to products and services, better technology, and a more robust team to serve you.

Q: What about the staff that I have come to trust and see regularly?

A: You will maintain the same relationships with employees you have come to appreciate throughout the years.

Q: Who would lead the organization?

James Chang would be the President/CEO of the combined organization. He is currently the CEO of Pasadena Service Federal Credit Union.

Q: Do both credit unions support this merger?

Both credit unions are very excited about this merger and the benefits it brings to our members, employees, and our communities.

Q: How will my accounts be impacted?

A: You will not have to do anything, and your accounts will remain with Pasadena Federal Credit Union. Your account number(s) will remain the same. There should be no change to your accounts during the merger. Your accounts will remain insured by the NCUA.

Q: Would my rates change?

The rates on fixed-rate loans and certificates remain the same until the end of their existing terms. Other products will adjust as normal due to market conditions.

Q: Would you close branches?

No. There are no plans for any branch closures. This merger would provide the opportunity to expand our branch locations and enhance our digital member experience.

Q: Would our field of membership change?

Yes, in the case of Pasadena Federal Credit Union. Pasadena Service Federal Credit Union has a larger field of membership and is community chartered, which would allow some members who wouldn’t normally qualify for membership to become members. Following the merger, the credit union would become community chartered.

Q: Would the change in the field of membership affect my membership?

No, you’d still be eligible for membership. Once a member, always a member.

Q: What if I have other concerns?

A: If you have additional questions or concerns, you can reach out to us by emailing and someone will respond to you within 48 hours. Please visit our website for the latest merger updates and communications.
Since 1936, myPSFCU has served the unique banking needs of Pasadena Unified School District and Pasadena City College faculty and staff. Over the years, myPSFCU has evolved into a community chartered financial institution that services the World Class City of Pasadena and surrounding areas.
In 2009, Vernon Commerce Federal Credit Union was acquired and continues to operate as a division of myPSFCU. As a not-for-profit financial cooperative, myPSFCU does not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher interest on deposits, and lower fees.

In June 2016, we had a charter expansion to territories from East Covina, down Huntington Park and West of Glendale. Every member has equal ownership and one vote – regardless of how much money a member has on deposit.

To learn more about PSFCU, visit here.