Las Vegas credit union completes its merger
The National Credit Union Association has approved the merger of Las Vegas-based Sonepco Federal Credit Union, a troubled $62 million credit union to serve employees of Nevada Energy Co. with SCE Federal Credit Union, a
$501 million credit union in Irwindale, Calif.
SCE Federal serves employees of Southern California Edison, a major power supplier in Southern California. Sonepco has lost $1.2 million so far in 2011. The merger is expected to close by Jan. 1 and all Sonepco employees were being retained.
Over the last few years, Nevada has seen a number of credit unions fail or merge due to the recession, including Clearstar Financial FCU, Ensign FCU, and Community One FCU.
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.
