COLORADO SPRINGS, Colo. -- Air Academy FCU laid off 19 employee, last week as a result of a slowdown in home lending and a restructuring program aimed at offering services online that has resulted in the closure of four branches.
The $420 million credit union said that 12 employees in its mortgage operation were laid off. Seven others, including one vice president, lost their jobs as part of a “strategic process” to shift transactions from Air Academy’s branches to electronic methods, resulting in four branch closures.
Air Academy does not expect any additional layoffs. The credit union now employs 134 at nine remaining branches in El Paso and Douglas counties.
The credit union lost $78,000 for the first three quarters of the year, due to an $886,427 charge for the NCUA corporate assessment.
