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CU System
Altura CU re-opens closed branch
RIVERSIDE, Calif. (3/27/12)--Altura CU is re-staffing a branch that it closed last year as part of a company-wide reduction in operating expenses, the Riverside, Calif.-based credit union announced Monday.

It will re-staff its Murrieta branch location, effective April 18. It had converted the branch to ATM-only on May 11, 2011.

"With the slow, yet steady improvement in the Inland Empire economy, and in Altura's financial performance, we are now able to return our Murrieta location to a full-service branch for our members," said Mark Hawkins, CEO of Altura CU.

After several years of financial losses tied to the collapse of the local economy, Altura reported net income of $8.43 million at the end of 2011, the third consecutive period of strong net income, and Altura's best since 2006.

"In 2010 and 2011, we implemented a series of cost-cutting measures to reduce our day-to-day operating expenses," said Hawkins. "Among these was the difficult decision to convert the Murrieta branch to an ATM-only branch with no on-site staff support. At the time, we reaffirmed our commitment to southern Riverside County, and that is why we maintained an ATM at the location."

The branch will be staffed with eight positions, three of which are internal transfers or promotions. One person is a rehire, and four staffers are new hires.


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