WACO, Texas — First Central CU was forced to close its new branch in the largely Hispanic neighborhood of Franklin Ave. after the outlet was robbed for the third time since March.
The credit union board wasted little time closing the branch after the Aug. 6 armed robbery, voting two days later to shut it down.
A letter posted at the branch the following morning told members, "Last evening, our board of directors met and decided that in the best interest of our members and employees, we would close our Franklin Avenue office immediately." The letter cited the "safety of our employees and members" as the reason.
The branch was opened less than two years ago as part of the Texas CU League's Juntos Avenzamos, or "together we advance" program aimed at educating Hispanic consumers about credit unions.
A suspect has been arrested for the Aug. 6 robbery, but police don't believe he is the same robber who hit the branch on June 27 or March 12.
