LAS VEGAS – Ailing Silver State Schools CU will continue to trim expenses by closing three more of its 12 Las Vegas area branches by mid-January, the credit union said yesterday.
The closing bring to 11 the total number of branches shuttered by the one-time $1 billion credit union since the onset of its financial troubles in 2009, when it operated 21 branches.
Employees at the three targeted branches, at Fort Apache, Rhodes and inside the Craig Albertson’s store, will be offered the opportunity to relocate to other branches with staff openings, said the credit union, now $665 million in assets.
“Silver State Schools Credit Union members in the Las Vegas area will continue to be served by a strong network of nine local branches,” said Andrew Hunter, Silver State’s president.
Silver State, which has been under a state supervisory agreement since 2009, reported a $2.7 loss for the third quarter and a $5.5 million loss for the year.
