Branch network

DALLAS – Prestige Community CU, one of the oldest credit unions in Dallas, will dedicate its new 6,700-foot headquarters with a ribbon-cutting ceremony Thursday.

RIVERSIDE, Calif. – Altura Credit Union, which posted a $6.1-million loss in 2008, said it will shutter two branches and convert a third to an electronic branch, in the process cutting 35 jobs, or 15% of its workforce.Overall, the $958-million Altura CU has also chosen not to fill an additional 27 open positions over the past 12 months. The total number of eliminated and unfilled positions represents 20% of Altura’s staff.Mark Hawkins, Altura’s president and CEO, told Credit Union Journal the troubles in the regional economy have led to hardships for the credit union, but the recent special assessment from NCUA to bolster the corporate credit unions followed by the conservatorship of San Dimas-Calif.-based WesCorp have proven to be too much to handle without making reductions. “This has been tough,” he said. “Our area certainly has had its challenges during the economic downturn. The final straw was having to pay the NCUSIF and the corporates. We will have to pay more than $9 million, and that is on top of our loan losses. We sat down and looked at those branches we could live without, and those positions that were not absolutely critical to our moving forward.”Sixteen branch positions and 19 positions at Altura’s headquarters were eliminated as part of the downsizing. In an effort to minimize layoffs, Altura said it has implemented a series of cost-cutting measures. These include reducing benefits and compensation for all employees, including the senior management team. “Just like our members, every one of us is having to sacrifice during this economic downturn,” Hawkins said.

What Gets Measured, Gets Done: The following article is one of six that, as part of Credit Union Journal's ongoing series on growth, takes a look at measurement metrics. The other articles can be found in the related links box on the right.

What Gets Measured, Gets Done: The following article is one of six that, as part of Credit Union Journal's ongoing series on growth, takes a look at measurement metrics. The other articles can be found in the related links box on the right.

What Gets Measured, Gets, Done: The following article is one of six that, as part of Credit Union Journal's ongoing series on growth, takes a look at measurement metrics. The other articles can be found in the related links box on the right.

NORMAN, Okla.– FAA CU has opened a new branch here in the former home of Fazoli's restaurant, which was the city’s first McDonald's location.

PALMYRA, Penn. – Members 1st FCU plans to open a student-run branch in Palmyra Area High School next month, the credit union fifth in-school facility.

HURRICANE, Utah – America First CU said it opened a new branch here inside the Wal-Mart store, the $4.4 billion credit union giant’s 87th branch.

ONTARIO, Calif. – The California and Nevada credit union leagues move into the new headquarters in the Ontario Airport Towers later this week.

LEOMINSTER, Mass. – Leominster CU has received final approvals from the city of Leominster and the state Division of Banks to build a three-story, 28,500-square-foot headquarters adjacent to its current main office.

PHILADELPHIA – Citadel FCU has acquired an 8,000 square-foot building, the former site of Basil restaurant, where it plans to locate a new branch.

RENO, Nev. – Great Basin FCU announced it will close its branch in the Ironhorse Shopping Center in Sparks on April 15.

DULUTH, Minn. – Duluth Teacher’s CU is planning to sell a vacant lot it owns to help it finance a new scholarship program.

ST. FRANCISVILLE, La. – Feliciana FCU, which has served the employees of the shuttered Tembec paper mill for four decades, announced last week it has shut down its branch here and put the building up for sale, the latest of a slew of credit union responses to the declining national economy.

TERRE HAUTE, Ind. – Vigo County FCU, the state’s oldest federally chartered credit union, broke ground yesterday on its first outside branch.

SAN FRANCISCO --Patelco CU said it is closing four branches, the latest credit union to contract in the midst of the troubled economy.

SPOKANE, Wash. – Union CU, known till last year as Inland Empire Trades CU, is branching out to the Tri-Cities area with a new branch in Kennewick.

STAFFORD, Va. – Navy FCU said it opened its new branch at the Quantico Corporate Center on Monday.

HUDSON, N.Y. – In an effort to better reach members in rural Greene County, Columbia-Green FCU plans to introduce a mobile mini-branch to one of the credit union’s select groups.

ROCK ISLAND, Ill. – RIA FCU has opened a branch in the new Hy-Vee grocery store in Moline, Ill.