BURBANK, Calif. – Technicolor FCU was back open for business on Wednesday after closing its doors Tuesday allegedly due to issues with some of its staff.
Management at Technicolor FCU did not respond to numerous telephone calls seeking confirmation of its status, nor was any notice posted on the credit union’s website Tuesday or Wednesday. Stuart Perlitsh, president and CEO of nearby Glendale Area Schools FCU, on Wednesday told Credit Union Journal his CU sent over some of its employees to Technicolor FCU as temporary help.
“There have been some challenges at Technicolor Federal Credit Union and in the spirit of credit unions helping credit unions, we at Glendale Area Schools Federal Credit Union have lent staff to the credit union,” he said. “[Technicolor FCU is] going to reimburse us 100% for lending our expertise on the teller line and in the lending department.” Pasadena-based LA Financial CU reportedly also lent staff to Technicolor FCU.
Technicolor FCU CEO Eric Dosch remains in place, Perlitsh said. “The CEO is still there and is in control of the situation, but he has had challenges with employees engaging in activity that violated credit union policies and procedures that have necessitated extraordinary action by the CEO. He has taken those steps to enforce those policies and procedures, and some of those employees are no longer working there.”
Technicolor FCU was chartered in 1952. It has $38 million in assets and serves more than 6,000 members from 65 companies in the “moving entertainment” industries.
