DFI Monthly Bulletin – August 2009

Monthly Bulletin

Volume 13, Issue 2 – August 2009

Commissioner Haraf on the Condition of the Banking and Credit Union Industries

Second Quarter 2009

In August, Commissioner William Haraf addressed financial institution trade groups on the condition of California banks and credit unions as of June 30, 2009. A link to the presentations can be found here.

Liquidation and Sale of Affinity Bank

On Friday, August 28, 2009, the Commissioner of Financial Institutions took possession of Affinity Bank and ordered that it be liquidated. The Commissioner then appointed the Federal Deposit Insurance Corporation (“FDIC”) as Liquidator, and the FDIC accepted the appointment. The FDIC subsequently sold the branch deposits and substantially all assets of Affinity Bank to Pacific Western Bank of San Diego, California.

Liquidation of Kaiser Lakeside Credit Union

On Monday, August 31, 2009, the Commissioner of Financial Institutions took possession of Kaiser Lakeside Credit Union and ordered that it be liquidated. The Commissioner then appointed the National Credit Union Administration (“NCUA”) as Liquidating Agent, and the NCUA accepted the appointment. The NCUA subsequently sold the deposits and substantially all the assets of Kaiser Lakeside Credit Union to SafeAmerica Credit Union of Pleasanton, California.

DFI Encourages Licensees to Participate in Go Direct Campaign Recognition Programs

The Department of Financial Institutions encourages its bank and credit union licensees as well as other California financial institutions to consider participating in one of the Go Direct campaign’s two recognition programs – Go Direct Champions or Go Direct Community Ambassadors, which are now open for registration. Spread the word about the safety and ease of direct deposit among their customers or members who get federal benefit payments by paper check. Successful participants will receive a letter of recognition and certificate from the U.S. Department of the Treasury’s Go Direct campaign. The recognition programs are:

  • Go Direct Champions Program. Now in its fourth year, Go Direct Champions is a recognition program for banks and credit unions with 100 or more branches that achieve exceptional results in increasing the use of direct deposit among federal benefit check recipients from October 2009 through May 2010. Register today – it’s free and easy! (If you participated last year, you need to re-register for this year’s program.) Call your campaign representative or visit GoDirect.org for more information. Deadline for registration is September 30, 2009.
  • Go Direct Community Ambassadors Program. The new and improved Go Direct Community Ambassadors Program is a recognition program for financial institutions with fewer than 100 branches. Participating banks and credit unions that fulfill program requirements during the October 2009 through May 2010 program period will receive national recognition as well as a Web banner and suggested newsletter copy to announce their designation as a 2009/2010 Go Direct Community Ambassador to staff, customers or members. Register today – it’s free and easy! (If you participated last year, you need to re-register for this year’s program.) Call your campaign representative or visit GoDirect.org for more information. Deadline for registration is September 30, 2009.

Participation gives financial institutions the opportunity to:

  • Gain national recognition from the U.S. Department of the Treasury’s Go Direct campaign.
  • Boost direct deposit use among your customers or members who receive federal benefit payments.
  • Monitor increases in direct deposit for Social Security payments.
  • Create a more loyal customer or member base.
  • Demonstrate your commitment to the safety and well-being of the people you serve.
  • Reduce paper-based transactions and paperwork.

For more information about these programs, call 952-346-6055 or visit GoDirect.org.

Bank on California

51,000 accounts these first six months!

Bank on Sacramento Update:

Financial institutions and community organizations are invited to host and/or sponsor financial literacy workshops in the Sacramento area. If you already offer financial education training or are interested in doing so as part of Bank on Sacramento program, please contact Alana Golden by e-mail at agolden@dfi.ca.gov or by phone at 916-323-7012.

Several banks and credit unions have already joined Bank on Sacramento as financial institution partners including Citibank, Bank of America, Bank of the West, First U.S. Community Credit Union, Patelco Credit Union, Safe Credit Union, Schools Financial Credit Union, Travis Credit Union, Umpqua Bank and Wells Fargo Bank.

Another way to partner with Bank on Sacramento is to participate in one of the working groups. Following the Bank on Sacramento Re-convening on July 1, 2009, various working groups started working on the planning and development of the program. It’s not too late to join one of the working groups including the Data Collection; Products and Services; Financial Education/Training; and Marketing working groups. Bank on Sacramento is looking to launch its program in October or November. Contact the program specialist, Spike Keil, for more information by email at spike.keil@opr.ca.gov or by phone at (916) 322-2318.

There are also opportunities to participate in the other “Bank on” programs including Fresno, Los Angeles, Oakland, San Francisco, and San Jose.


September 20, 11 a.m. – 4 p.m. – Bank on Sacramento program will participate in the “Learning to Live in America” Fair at Southside Park, 6th and T Street, Sacramento.

October 3, 10 a.m. – 4 p.m. – Bank on Oakland will hold a Financial Planning Seminar at the Elihu Harris State Building at 1515 Clay Street, Oakland.

Census 2010

Make a Difference in Your Community

DFI encourages financial institutions to share the commitment to reach out to California’s communities regarding the importance of an accurate Census count through trusted voices and messengers. With your help we can ensure that California has a complete count in the Census 2010.

Become a 2010 Census Partner – 2010 Census Partners are government, non-profit, corporate or community organizations that have formally pledged their commitment to share the 2010 Census message and mobilize their constituents in support of the Census Bureau’s goal of achieving a complete count. Find out about becoming a partner. See a list of current partners at http://2010.census.gov/partners/partners/

Census 2010 Materials – Download promotional materials for more information or to share with your community. There are a variety of materials including information on the 2010 Census in pdf format:

  • General information — fact sheets and maps
  • 2010 Census Questionnaires — informational questionnaires (English and Bilingual)
  • Partnership Information — fact sheets
  • Census in Schools Program — fact sheets and 2010 Coloring and Activity Book
  • Complete Count Committees — guide and brochures
  • Employment information — brochures, fliers and posters

For more information, visit http://2010.census.gov/2010census/promotional_materials/index.html.

California Complete Count Regional Convenings continue through September – on September 15 in Merced; on September 22 in the Los Angeles area; and on September 24 in Riverside. For additional information on attending and to register, please visit http://www.cce.csus.edu/conferences/census/index.htm.

DFI has prepared a Census 2010 area on the DFI Web site. Find Census information specific to California at http://www.dfi.ca.gov/census2010.asp.

Commercial Bank Activity

Acquisition of Control
Orfalea Family Foundation and Hutton Foundation to acquire control of Bank of Santa Barbara
Filed: 7/28/09

Change of Name
Atlantic Pacific Bank, to change its name to AltaPacific Bank
Effected: 8/3/09

Industrial Bank Activity

Purchase of Partial Business Unit
Finance and Thrift Company, Porterville, to acquire certain assets and assume certain liabilities from the Bakersfield branch office of Balboa Thrift and Loan Association, Chula Vista
Filed: 7/21/09
Approved: 8/13/09

Premium Finance Company Activity

New Premium Finance Company

Advanced Consulting Enterprises, Inc.
6030 Pat Avenue, Woodland Hills, Los Angeles County
Filed: 8/18/09

gotoPremiumFinance.com, Inc.
21820 Burbank Boulevard, Woodland Hills, Los Angeles County
Approved: 8/4/09

Credit Union Activity

Field of Membership

Three credit unions received approval to add five new fields of membership during July 2009.

Bylaw Amendment

One credit union received approval for one bylaw amendment during July 2009.


Limoneira Federal Credit Union, Santa Paula, to merge with and into California Agribusiness Credit Union, Buena Park
Filed: 8/20/09

Service Plus Credit Union, Riverside, to merge with and into Schools First Federal Credit Union, Santa Ana
Filed: 7/3/09
Approved: 7/14/09
Effected: 8/25/09

WestWorks Credit Union, Alhambra, to merge with and into Credit Union of Southern California, Brea
Filed: 8/4/09

Foreign (Other Nation) Bank Activity

New Office

Mizuho Corporate Bank, Ltd.
350 South Grand Avenue, City and County of Los Angeles (Upgrade from Nondepositary Agency to Wholesale Branch Office)
Opened: 8/3/09


Standard Chartered Bank

  • Koll Center, 501 West Broadway, City and County of San Diego (Representative office)
  • 425 Market Street, City and County of San Francisco (Representative office)

Discontinued: 7/31/09

Voluntary Surrender of License

Eurohypo Aktiengesellschaft
6100 Center Drive, City and County of Los Angeles (Representative Office)
Notified: 8/4/09
Effected: 8/31/09

Change of Name

ABN AMRO Bank N.V., to change its name to The Royal Bank of Scotland N.V.
Notified: 7/28/09

Foreign (Other State) Bank Activity

New Facility

Crestmark Bank (Facility – Insured Bank)
17846 Lahey Street, Granada Hills, Los Angeles County
Notified: 8/11/09

Discontinuance of Facility

Allegiance Direct Bank (Facility – Other State Industrial Bank)
7350 Spinnaker Street, Carlsbad, San Diego County
Notified: 8/27/09

Transmitter of Money Abroad Activity

New Transmitter

m-Via, Inc.
Filed: 8/3/09

Voluntary Surrender of License

Naunihal Currency Exchange, Inc.
Effected: 6/30/09

Commissioner of Financial Institutions

Bulletin for Month ended
August 2009, issued pursuant
to Financial Code section 258