PHOENIX – Arizona FCU, which reported a staggering $115.9 million loss last year, announced Friday it is closing four branches.
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The closures, two in Mesa and one each in Phoenix and Tempe, will leave the $1.7 billion credit union with a total of 25 branches. The credit union had added three branches in the first half of 2008.
Arizona Fed employs about 750 people and doesn't expect layoffs from the four branch closures and plans to transfer workers from those branches to other locations. Since October, the credit union’s staff has dropped by 68 positions through attrition.
