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

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As part of the merger, which finalized June 1, CPLC’d one location will become a MariSol’s brancb at 701 S. Central Ave., bringing its totao number of metro Phoenix locations to The Chicanos Por La Causa staftf will remain at the central branch and CPLC accountw will be transferredto MariSol. Members shouldn’tr expect any changes. “We are committed to making this transitiob as seamless as possible and to maintaining our sharedf values and commitment to our Hispanic said MariSol CEORobin L. Romano.
“MariSol will continu e to focus on making a difference in the community we serve and to educating each of our new members on ways they can maintaij their own financial Both organizations servethe region’s vast Latink demographic and have seen losses mountr in the financial crisis, similar to many other credit unions Many of their customers have lost theif jobs and are struggling to meet loan CPLC lost $52,000 in the first quarter, and boosted its loan loss allowancw to $315,000. In 2008, the credit unionb lost $585,000.
As of Marcu 31, it had 77,462 delinquent loans on the MariSollost $214,006 in the first quarter and reported that 210,818 borrowers were delinquent on In 2008, MariSol lost $317,000. The nonprofit has more than $26 millio in assets and 6,709 members. CPLC was founded in 1988 and grewto $4 millioj in assets and 1,700 members.