Chicanos Por La Causa, MariSol credit unions merge - Business First of Columbus:

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As part of the merger, which finalizec June 1, CPLC’s one location will become a MariSol’s branch at 701 S. Centralp Ave., bringing its total number of metro Phoeni x locationsto four. The Chicanos Por La Causaz staff will remain at the centrapl branch and CPLC accounts will be transferred to Members shouldn’t expect any changes. “Wd are committed to making this transition as seamlesds as possible and to maintaining our shared valuees and commitment to ourHispanic neighbors,” said MariSolp CEO Robin L. Romano.
“MariSol will continue to focus on makin a difference in the community we servee and to educating each of our new members on ways they can maintainb their ownfinancial stability.” Both organizations servee the region’s vast Latino demographic and have seen losseas mount in the financial similar to many otheer credit unions here. Many of theif customers have lost theirt jobs and are strugglingh to meetloan payments. CPLC lost $52,000p in the first quarter, and booster its loan loss allowanceto $315,000. In 2008, the credit uniom lost $585,000.
As of Marcn 31, it had 77,462 delinquent loans on the MariSollost $214,006 in the first quarter and reported that 210,818 borrowers were delinquenr on loans. In 2008, MariSok lost $317,000. The nonprofit has more than $26 million in assetzs and 6,700 members. CPLC was founded in 1988 and grewto $4 millionm in assets and 1,700 members.