SAN FRANCISCO --Patelco CU said it is closing four branches, the latest credit union to contract in the midst of the troubled economy.
The $4.1 billion credit union, which posted a $40.2 million loss for 2008, said it 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 the Credit Union Journal
