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Wescom CU to close 12 branches
PASADENA, Calif. (12/16/09)--Wescom CU, Pasadena, Calif., announced it will close 12 branches on Jan. 29 to improve its long-term financial strategy. The branches closing include all six locations in San Diego County and Santa Barbara County, and in Temecula, Fontana, Monrovia, Anaheim Hills, Santa Monica and San Pedro. After the closings, Wescom will have 29 branch locations in five counties. Wescom has thousands of members in San Diego County and in Santa Barbara County. The credit union said it planned to fully develop its presence in those areas, but the economy hampered its ability to allocate resources. “We concluded it would continue to be a challenge to provide adequate resources to our growing markets,” said Wescom CEO Darren Williams. “We also considered our branch network as a whole and concluded we could make adjustments in our primary markets as well.” However, “we believe we can continue to serve our members well with our 29 remaining branches and through our remote and automated channels,” he added. Wescom will make positions available to every employee in the impacted branches. Many positions will be comparable and in commutable location; however, some management level staff will be offered noncomparable positions and the geography of the branch network will make it less feasible for some staff to commute to a new location. The credit union also said it is working to improve its online banking and ATM capabilities to serve members. Wescom has $3 billion in assets.


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