Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
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.


RSS print
News Now LiveWire
Learn how to stay competitive with new research blog from @CUNA's econ/statistics dept in Wed's #NewsNow
4 hours ago
#FOMC meeting watch: Change in forward guidance expected #Market #NewsNow http://t.co/PH41VN1j9l
5 hours ago
Member growth at #creditunion continues despite mill closure #NewsNow http://t.co/rNRjLBjvX9
7 hours ago
CA/NV league pres/CEO Dykstra in @sacbee_news: Retailers should hold accountability in data breaches http://t.co/odyHd9N2OG
8 hours ago
Fin. lit. ideas percolate during .@NW_Banking #tweetchat #NewsNow http://t.co/nSS9Iiw0e0
8 hours ago