Credit Union Mergers: A Class Act, Burnishing Our Reputation...

    ... Pssst! 

It's All Really About The Members! Really, Trust Me.

✅ We've been taking a look at the credit union merger cash-grab blossoming nationwide [link - Godfather series].  Been using the SAFE/BECU  merger proposal as an example to demonstrate the questionable economics, the lack of full and fair member disclosures, and the less than inspiring due diligence, which seem to underlie many of these hook-ups.

Clear confirmation of the predatory self-aggrandizement underlying these - "better-for-the-members" - fictions is now on full display in Southern California! California Coast and San Diego County credit unions have gotten into a major, merger cat brawl - in court and under oath !

  Here are some "highlights":

✔ California Coast Credit Union and San Diego County Credit Union (SDCCU) announced merger last year that’s turned into a legal spat .

✔ As the integration began, SDCCU says it uncovered serious governance and compliance red flags

✔ Cal Coast CEO Todd Lane said “I am a dictator and I run a dictatorship” according to sworn statement by SDCCU Chief Risk Officer Carolyn Kissick. “It doesn’t matter what I say or what I think, he’s going to do what he wants to do.”

✔ SDCCU has proposed putting its CEO, Teresa Campbell at the helm and take a 9-2 board majority, which in turn led to lawsuit by Cal Coast attempting to force merger consummation

 😎 San Diego is literally stealing the show in California! If you want the raw truth about credit union "mega-me" mergers read it all right here:  [link - "Stay Classy"] 

  Our reputation on display and in play... me-me-meow-ch! 

 

Credit Union Mergers: Why Spend $400+ Million On Something That Members Can Get Free?

 

$400+ million and not even a toaster!!!

🧌🧌🧌 Comment: Anonymous February 21, 2026 at 10:58 AM

"6:32.  not sure where you live, but it’s not in reality. You think SAFE members should get paid their capital in full, and then they automatically get a claim on BECU capital, given up by BECU members? Makes no sense."

✅ For SAFE members who truly need the services offered by BECU,  you can join BECU today for free simply by opening a $25 share account. The same free offer open to everybody else in the U.S.A. - you're not special! Here's the link to join [link] "BECU Membership is free and starts when you open an account." 

Actually, it is increasingly unclear why the SAFE CU Board should give away their credit union to an out-of-state entity. SAFE CU is thriving, with strong capital reserves of $400+ million which are owned by the 245,000 SAFE members around Sacramento. Even if the SAFE members want to sellout, they can readily find a much better deal than the BECU giveaway.

So if you need BECU, join for free today and "automatically get a claim on BECU capital" for free, and, "Yes!" Keep that $400 million in cash. It's yours... you earned it!

 Does the SAFE Board understand what they are giving away? Over $400+ million of members' money... quite a charitable contribution to Washington!