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News Now

CU System
Patelco confirms four branches closing
SAN FRANCISCO (3/9/09)--Patelco CU has confirmed it will close four branches on April 30. The closings come "in the context of historic times. That said, these are more strategic branch network decisions and not cost-cutting measures," Andy Hunter, president/CEO told News Now. In the past year, the San Francisco-based Patelco has made two acquisitions with six branches, opened a branch, and closed a branch, Hunter said. Branches effected are in Eureka, Windsor, Bakersfield, and Pleasant Hill. Closures are based on a matter of their location. One is an acquired branch that is close to an existing Patelco branch. Others are outside Patelco's primary membership area. Members served by those branches have other services available in the areas, including other branches, online banking, shared branches and ATMs, Hunter added. One branch, in Bakersfield, is a shared branch with another credit union under the Financial Service Centers Cooperative (FSCC) network. "We are working with the other credit union" for a transition, Hunter said. Of the 520 full-time equivalent jobs employed by Patelco, about 12 jobs will be lost, although some may be absorbed. The closures will leave the credit union with 43 branches.


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