Financial Services Return To CaliforniaTown

November 04, 2004, 1:00 a.m. EST 1 Min Read

Facebook
Twitter
LinkedIn
Email
Show more sharing options
Share Show more sharing options

Register now

POINT ARENA, Calif. - (11/04/04) -- Oakland-based Inwood CU said itopened a new branch in this tiny town on California's northerncoast that was abandoned by its last remaining financialinstitution in February 2003 when Westamerica Bank pulled up stakeshere. The bank's abandonment left the town with only an ATM, withthe closest financial institution branch 32 miles away. Point ArenaMayor Leslie Dahloff and other local dignitaries were among almost500 townspeople on hand to welcome the new credit union branchduring a dedication ceremony. In its first week after opening, thenew branch attracted 130 new members and took in more than $1million in deposits.

Facebook
Twitter
LinkedIn
Email
Show more sharing options
Share Show more sharing options

Reprint

For reprint and licensing requests for this article, click here.

TRENDING

Regulatory relief

Small banks welcome PPP relief but fear it may not be enough

Community banks that were pushed past key asset limits by the Paycheck Protection Program say they will be unable to shrink their balance sheets back to normal size by the 2022 deadline, especially if there is a new round of rescue aid.

By Jon Prior

November 25
Digital banking

Challenger bank Current doubles customers in six months

The 5-year-old company, which recently raised $131 million, says its strong growth reflects the timeliness of its mission: helping consumers who live paycheck to paycheck build wealth.

By Penny Crosman

November 25
Climate change

Banks push back on OCC’s bid to ban lending bias

The industry is asking for more time to comment on a regulatory proposal that aims to prohibit banks from denying services to oil and gas companies and other firms in politically sensitive industries.

By Laura Alix

November 25

MORE FROM AMERICAN BANKER

M&A

Achieva Credit Union lands fourth merger in 10 years

Coast 2 Coast Financial Credit Union has agreed to join the Florida-based Achieva, which previously acquired two community banks.

By Jackie Stewart

November 25
Credit cards

COVID-era credit card spending hits new high

In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU.

By Jackie Stewart

November 25
CRA

OCC enters new phase of CRA reform with scoring proposal

The plan still lacks concrete details about standards banks must meet to earn high ratings, but the agency said the new methodology would end grade inflation and could penalize banks that underperform.

By Brendan Pedersen

November 24
Digital banking

This de novo wants to be the go-to bank for fintechs

CEO Wendy Cai-Lee says Piermont Bank can do it all for financial technology firms: be their commercial banker, be their banking-as-a-service provider and develop APIs and other cutting-edge products for them.

By Penny Crosman

November 24
Digital transformation: The revenue leak banks don’t talk about

Big banks are spending billions of dollars on digital transformation initiatives that never get off the ground.

Partner Insights
Sponsor Content From Kunai
Professional development

World Council of Credit Unions moves annual event online

The group is just the latest industry organization to already alter plans for a gathering scheduled for 2021.

By Jackie Stewart

November 24