WESCOM CENTRAL CREDIT UNION

The credit union through its employees, members, and wescom foundation supported community outreach throughout 2024. $1,000,000+ granted to support non-profit partners and non-profit organization , and $25,000 donated to national multiple sclerosis society.

The credit union acquired central coast credit union on april 1, 2024. The acquisition was undertaken to increase efficiencies to improve overall service to the consolidated member base. No consideration was paid for the acquisition, yet the fair value of the acquired equity below is reflective of a hypothetical transaction price. The credit union assumed all assets and liabilities of the acquired institution and accounted for the transactions at fair value pursuant to acquisition accounting guidance. The fair value of the acquired entity totaled $2,019,038.