According to the NCUA's June 5 corporate update, Western Corporate Federal Credit Union will close branch processing facilities in San Leandro, Calif., Seattle, Spokane, Wash., and Salt Lake City. The corporate cited the continued conversion of paper processing to electronic imaging, along with the timing of contract renewals at the facilities.
The decision will result in 60 pink slips and is part of new CEO Phillip Perkins' efforts to reduce costs for the struggling corporate, placed into conservatorship March 20.
NCUA spokesman John McKechnie said the move reflects the industry's progression from paper check processing to electronic image capture, and the decision to consolidate processing facilities was made prior to WesCorp's conservatorship. He added that the "pace has quickened" under Perkins.
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