Calif. Branch Closings
Scaling back underperforming operations, America's Christian Credit Union of Glendora, Calif. recently closed two of its branches.
"We're proud to say that we're a healthy California credit union but made the decision to close two branches that simply were underperforming and did not meet our goals," declared Bryan London, vice president of marketing of the $500 million CU.
London stressed that both branch managers had been retained in new jobs with the Kansas executive "working from home as Kansas regional officer."
Both branches began operation years ago following mergers with church-based CUs in Wichita and Loomis, a Sacramento suburb, but became less effective in producing loans, said London.
America's Christian CU, which has two California branches and 25,000 members, serves church ministries across the U.S. and has a business model that is working satisfactorily despite the difficulties of other California CUs, said London. The CU reported income of $307,000 in 2008, though it experienced a sharp drop in the fourth quarter.
"We do feel blessed and fortunate that we have not bled money," like some other California CUs, said London.