SAN DIEGO – North Island CU, which reported a $50.2 million loss for 2008, announced plans last week to close three branches and lay-off the employees at those facilities.
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The closures will result in lay-offs of 45 workers. Coupled with the downsizing of 50 others positions last year, the $1.6 billion credit union has cut its workforce from a high of 440 positions last June, to 339 full-time employees, credit union officials said.
The branches targeted for closure are in Carlsbad, Vista and the Clairemont area of San Diego, and will leave North Island with 13 branches.
