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Chairman Andy Doyle Talks About the Benefits of the Merger with CalCom
On July 1, 2013, City of Downey Federal Credit
Union (CODFCU) is merging with CalCom Federal
Credit Union (CalCom). The Merger with CalCom
will add four new branches for CODFCU Members
to access and after the Merger CalCom will
have over $65 million in assets and over 9,000
Members.
Andy Doyle is the Chairman of the CODFCU
Board of Directors. As a Board Member for over
20 years, Andy has seen
the credit union grow to
$7 million in assets and
over 1,000 Members.
He also help guide the
credit union through
the worst economic
downturn since the
Great Depression with
the help of CEO Jon Hernandez. Andy was also a
supporter of the decision to merge CODFCU with
CalCom effective July 1, 2013.
When asked about the benefits that CODFCU
Members would receive, Andy was excited to say “Our Members will have access to new products
and services such as Money Market Accounts
and VISA Credit Cards.” Andy added that “the
combination of the two credit unions would give
CODFCU access to CalCom branches throughout
Southern California in addition to keeping our
current branch locations open.” Doyle also
indicated that CODFCU Members would have
access to additional services such as:
• A toll free number
• A larger ATM network
• Onsite financial advisor
• Account to account transfers
• Overdraft protection programs
• Quarterly Financial Literacy Seminars
Andy felt that one of the most important aspects
of the merger was the fact that Jon Hernandez
and the rest of the Credit Union Management
Team and Staff will continue
to serve CODFCU Members
after the merger. Andy said
that “We are fortunate to have
been able to collaboratively
share the Management
Team and key resources with
CalCom over the last several
years. Since this relationship
was already in place it will make our transition
into CalCom much easier.”
The upcoming Merger will also provide benefits to
CalCom because, Andy, Richard Redmayne and
Tony Vasquez will become CalCom Volunteers
once the merger is complete. The Volunteers,
Staff and Membership of CalCom will benefit
greatly from their experience and dedication
to the credit union movement. When asked to
sum up the merger with CalCom Andy said “The
merger is truly a win for both credit unions and
only make CalCom FCU stronger and provides
more access and options to the Members of
both credit unions.”
Important Dates to Remember
| Monday, May 27 |
Memorial Day
Credit Union Closed |
| Thursday, July 4 |
Independence Day
Credit Union Closed |
|
Note: Mail deposits, payments,
payrolls, share drafts and electronic
fund transfer transactions will be
processed accordingly during the
listed holidays.
