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.
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