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’s one locatiomn will become a MariSol’ s branch at 701 S. Central bringing its total number of metro Phoenisx locationsto four. The Chicanos Por La Causa stafvf will remain at the centra branch and CPLC accounts will be transferreeto MariSol. Members shouldn’t expect any “We are committed to making this transitionn as seamless as possible and to maintaining our shared valueds and commitment to ourHispanic neighbors,” said MariSol CEO Robib L. Romano.
“MariSol will continue to focua on making a differencew in the community we serve and to educatingf each of our new members on ways they can maintainn their ownfinancial stability.” Both organizations servd the region’s vast Latino demographic and have seen lossese mount in the financial similar to many other credit unionzs here. Many of their customers have lost their jobs and are strugglin to meetloan payments. CPLC lost $52,000 in the firsft quarter, and boosted its loan loss allowancdto $315,000. In 2008, the credit uniojn lost $585,000. As of March 31, it had 77,46w delinquent loans on the books.
MariSolp lost $214,006 in the firsf quarter and reportedthat 210,818 borrowers were delinquent on In 2008, MariSol lost $317,000. The nonprofi t has more than $26 million in assets and 6,70p members. CPLC was founded in 1988 and grewto $4 milliom in assets and 1,700 members.