Wescom Announces Branch Closures, Reduced Hours and Staff Reductions
PASADENA, Calif. -- Wescom Credit Union announced today that it will close 11 branches, discontinue most Sunday hours, and eliminate more than 100 positions. The branches, which President/CEO Darren Williams said are earmarked for consolidation due to small deposit and membership bases, a lack of growth, and proximity to other branches, will close on Friday, September 12.
Williams said the job losses are primarily in branch operations. However, the $3.8 billion credit union also streamlined some other operational departments and cut redundant positions. For example, Williams said, one origination department will serve both Wescom's internal real estate department and its mortgage CUSO.
When Wescom eliminated 113 positions this past January, all but 20 affected employees accepted open positions elsewhere in the credit union. While Williams said he doesn't expect as many to stay this go-around, he does have plenty of open positions that fit affected employees' existing skill sets.Sunday hours, which had just been honored a couple of months ago by the Marketing Association of Credit Unions as a MACQUEE runner-up, have been discontinued in all but in-store branches.