SAN FRANCISCO-Patelco Credit Union is closing four branches as part of a strategy of concentrating on its core service area, a spokesperson said.
The $4.1-billion CU, which serves more than 300,000 members, will shutter its two northernmost California branches in Eureka and Windsor, and one in the southern end of the San Joaquin Valley in Bakersfield. In addition, a branch in Pleasant Hill that was acquired when Patelco absorbed Cal State 9 CU will be closed as it is one mile from an existing Patelco branch in Concord.
"We are closing certain branches in our market which are outside our core service area, which we define as the central San Francisco Bay Area and Sacramento," Alison Jones, Patelco's senior vice president of marketing, told Credit Union Journal.
Jones pointed out the CU giant recently opened a branch in Danville, which is part of this core service area.
"We are dedicated to improving access where the majority of our members live and work," she said. "It sounds worse than it is when you hear about financial institutions closing branches, but it just makes sense four us to reexamine our branch strategy."
