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CU System
Meriwest CU closes Tucson branches
TUCSON, Ariz. (11/24/09)--Meriwest CU announced it will close its two Tuscon financial centers Jan. 1, but members will continue to be served through Shared Branching. Meriwest, based in San Jose, Calif., serves members in California and Arizona. The credit union is closing the two Tucson branches--the only two it has in the state--in a move to consolidate its operations. “Prudence dictates that we consolidate some of our operations to better weather this [economic] storm for the membership as a whole,” the credit union said in a statement. Meriwest has no plans to close additional financial centers. “Our capital is strong, our operations are excellent and our expenses are well below peers',” the credit union said. Staff at the Tucson centers will remain until the centers close. The staff will be given support, a compensation package, and Meriwest will contact other credit unions in the area to identify job opportunities or provide references, Meriwest said. Members in the Tucson area will continue to be served by Meriwest through Shared Branching. Meriwest provided a list of credit unions members can visit for Shared Branching services on its website. Members also can conduct ATM transactions through 7-Eleven VCom units in the Tucson area. Meriwest has $1.3 billion in assets. For more information, use the link.
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