As further evidence of its asset scaledown, the $720 million Arrowhead Central Credit Union, under NCUA conservatorship since last June, announced Tuesday it is closing eight California branches by yearend.
The San Bernardino CU also disclosed that its interim management has sharply reduced operating expenses by more than 30% from a year ago while also reducing and eliminating some member fees, including loan application fees.
The closing of the branches, six of which are located in Stater Bros. markets, follows the sale this summer of four other branches to Alaska USA FCU of Anchorage.
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