ST. FRANCISVILLE, La. – Feliciana FCU, which has served the employees of the shuttered Tembec paper mill for four decades, announced last week it has shut down its branch here and put the building up for sale, the latest of a slew of credit union responses to the declining national economy.
The $25 million credit union was one of several to announce branch closings last week.
ARH FCU said it is shuttering its Wal-Mart branch in Middlesboro, Ky.; Adirondack Regional FCU announced it is closing is Wilmington, N.Y., branch; and San Francisco credit union giant Patelco CU said it is closing four branches.
An official with ARH FCU said the credit union is closing its Wal-Mart branch to help reduce operating expenses.
An Adirondack Regional FCU official said the branch closing was also part of an effort to reduce expenses.
An official with Patelco, which is in the process of absorbing two nearby credit union failures, said the $4 billion credit union is closing certain branches in its market which outside its core service area, which we define as the central San Francisco Bay Area and Sacramento.
