The beleaguered $667 million Silver State Schools Credit Unionof Las Vegas announced Wednesday that it plans to shed three morebranches by mid-January.

The once-dominant Nevada credit union, which formerly operatednearly 20 branches across the state, will have just nine.

The exact number of employees being furloughed was not disclosedbut Andrew Hunter, the president/CEO, said the closures were neededas a “proactive step” in reducing expenses.

Silver State Schools has been under new management since July and has been under scrutiny by the Nevada Departmentof Financial Institutions since its fortunes turned during therecession in particularly hard hit Las Vegas.

The CU most recently reported 3.85% net worth and a thirdquarter net loss of $2.8 million, $5.5 million for the year so far.It also traded places with its former rival, the $684 million OneNevada CU as the state's largest credit union.

In a statement issued late Wednesday, Hunter said CU managementis now “proactively communicating with … members to let them knowabout the closing and the options available to them.”