topic Re: California Coast FCU and SDCCU halted the merger and sued each other in Personal Finance

California Coast FCU and SDCCU halted the merger and sued each other

MeowingTheCat — Sun, 18 Jan 2026 13:43:15 GMT

I came across r/creditunions Reddit post where California Coast FCU and SDCCU halted their merger and they're suing each other. They're blaming each other lol.

Reddit post

San Diego Business Journal article

American Banker article

Re: California Coast FCU and SDCCU halted the merger and sued each other

AndySoCal — Sun, 18 Jan 2026 15:52:14 GMT

Here is opinions of the two merger parties

https://www.sdccu.com/merger/

https://www.calcoastcu.org/

I live in Los Angeles so I cannot bank with either one. Even if I could I would not because their savings rates are well below average.

Re: California Coast FCU and SDCCU halted the merger and sued each other

MeowingTheCat — Sun, 18 Jan 2026 23:16:34 GMT

@AndySoCal wrote:
Here is opinions of the two merger parties

https://www.sdccu.com/merger/

https://www.calcoastcu.org/

I live in Los Angeles so I cannot bank with either one. Even if I could I would not because their savings rates are well below average.

SDCCU has a Financial Fitness Association membership that you can join outside San Diego, Riverside or Orange counties. Cal Coast however only accepts San Diego, Riverside, Orange, Los Angeles, Ventura, Imperial, or San Bernardino counties and you might able that to join that because you said you live in Los Angeles.

Re: California Coast FCU and SDCCU halted the merger and sued each other

AndySoCal — Mon, 19 Jan 2026 04:23:34 GMT

@MeowingTheCat The rates that either credit union pay on savings accounts is well below average. The credit unions that I am a member of pay more than either Cal Coast or San Diego County Credit Union.

Re: California Coast FCU and SDCCU halted the merger and sued each other

Royalbacon — Fri, 23 Jan 2026 02:09:40 GMT

@MeowingTheCat wrote:
@AndySoCal wrote:
Here is opinions of the two merger parties

https://www.sdccu.com/merger/

https://www.calcoastcu.org/

I live in Los Angeles so I cannot bank with either one. Even if I could I would not because their savings rates are well below average.

SDCCU has a Financial Fitness Association membership that you can join outside San Diego, Riverside or Orange counties. Cal Coast however only accepts San Diego, Riverside, Orange, Los Angeles, Ventura, Imperial, or San Bernardino counties and you might able that to join that because you said you live in Los Angeles.

Calcoast is indeed open to anyone. I actually joined them from Minnesota previously and ended up closing my account because of their merger with SDCCU after that was announced. Well that, and their rates are absolutely horrendous, just like SDCCU's rates.

CalCoast is on DepsoitAccounts big list of credit unions open to anyone. I do admit though that Calcoast's website doesn't make it very clear or obvious that they're open to everyone.

https://www.depositaccounts.com/credit-unions/anyone-can-join/

I previously tried to join SDCCU from out of state too and what a nightmare. They ended up opening my accounts and immediately closing them. Read my experience here. https://ficoforums.myfico.com/t5/Credit-Cards/San-DIego-County-Credit-Union-SDCCU-Does-anyone-have-any-DP-s-or/td-p/6761567

Also their products are uncompetitive and awful along with their rates.

Re: California Coast FCU and SDCCU halted the merger and sued each other

Royalbacon — Fri, 23 Jan 2026 02:08:49 GMT

I saw a reddit comment where supposedly San Diego County was only trying to merge with Cal Coast for their name as they're expanding or planning to expand beyond the San Diego area up along the coast towards the Los Angeles area.

I've never seen a bank or credit union merger fall apart like this and glad we have a fascinating popcorn show to watch between these two.

Re: California Coast FCU and SDCCU halted the merger and sued each other

BearsCubsOtters — Sun, 25 Jan 2026 16:24:19 GMT

Good. SDCCU is better (I am basing this on the fact that SDCCU has normal, horizontal/landscape debit and credit cards versus CalCoasts ugly vertical cards LOL).

Someone mentioned one reason SDCCU wanted CalCoast was for the name and expansion goals. Why not Pacific Coast Credit Union? Sounds better than CalCoast.

Re: California Coast FCU and SDCCU halted the merger and sued each other

AndySoCal — Sun, 25 Jan 2026 22:14:50 GMT

When I come off the link in depositaccounts for current membership requirements for California Coast this is the landing page. https://www.calcoastcu.org/

Go to their savings accounts the link below shows you need $2500 balance to earn .05% interest. This is true for most of their savings accounts none of them have rate higher than the rate shown above.https://www.calcoastcu.org/savings-rates/

I cannot find on their site what their certificate rates are per deposit accounts the rates for CD under a 4 year is less than one percent. I have yet to find a reason to become a member.

San Diego County is a little bit better but their savings rates are well below par. Again no reason to become a member. For savings rates here is the rates for Lafayette Federal Credit Union which I am a member of https://www.lfcu.org/rates/ Their early withdrawal penalty is higher than some credit unions but so is their rates

Re: California Coast FCU and SDCCU halted the merger and sued each other

MeowingTheCat — Thu, 12 Feb 2026 21:13:56 GMT

Here's more article regarding the ongoing issue. It is a mess.

https://corpgov.com/stay-classy-san-diego-corporate-governance-turned-asunder-at-cal-coast-credit-union/

Re: California Coast FCU and SDCCU halted the merger and sued each other

Royalbacon — Thu, 12 Feb 2026 22:52:25 GMT

@MeowingTheCat wrote:
Here's more article regarding the ongoing issue. It is a mess.

https://corpgov.com/stay-classy-san-diego-corporate-governance-turned-asunder-at-cal-coast-credit-union/

This is like a cartoon. Lol Wow I have no words, nor have I ever seen anything like this before.

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
Ms. Kissick also said in a sworn statement that Cal Coast’s Chief Audit & Risk Officer said of Mr. Lane “It doesn’t matter what I say or what I think, he’s going to do what he wants to do.”
SDCCU this week also raised concerns about Cal Coast’s Chief Audit and Risk Officer’s DUI conviction

I don't know why anyone banks at either one. Both credit unions have disastrous rates on literally everything, insanely uncompetitve credit cards & checking accounts. Nothing but minitature banks bearing the credit union name and being a credit union in name only.

Re: California Coast FCU and SDCCU halted the merger and sued each other

AndySoCal — Thu, 12 Feb 2026 23:03:48 GMT

The regulatory concerns that have been raised if true are very concerning. I wonder if SDCCU will report their regulatory concerns to the auditors. Stay far away from Cal Coast.

Re: California Coast FCU and SDCCU halted the merger and sued each other

Royalbacon — Thu, 12 Feb 2026 23:09:58 GMT

I'd stay away from SDCCU too. Not only are their products and rates complete garbage are uncompetitive, they made me jump through a ridiculous amount of hoops to jump through just to join, and then when my account got opened, I never received a member number or anything to register for online banking and they closed my entire account immediately thereafter without notifying me.

https://ficoforums.myfico.com/t5/Credit-Cards/San-DIego-County-Credit-Union-SDCCU-Does-anyone-have-any-DP-s-or/td-p/6761567

Oh, and they've literally been in the news for the obscene amounts of profit they make off byh fleecing their members with overdraft fees and other bogus fees. If you love Wells Fqrgo and their shady, unethical business practices then you'll be sure to love SDCCU as well! (Along with Cal Coast)

Re: California Coast FCU and SDCCU halted the merger and sued each other

CaneVariant — Fri, 13 Feb 2026 01:23:24 GMT

SDCCU is the worst. No idea why people use them. Cal Coast used to have a solid CD offering but that really isn't anything special.