Citing both the economy and prudent policies, the $500 million America's Christian Credit Union of Glendora, Calif. is closing two of its out-of-market branches today in Sacramento and Wichita, Kan.
"We're' proud to say that we're a healthy California credit union but made the decision to close two branches that simply were underperforming and did not meet our goals," declared Bryan London, vice president of marketing, stressing that both branch managers are being retained in new capacities.
Both branches opened several years ago following mergers with church-based CUs in Wichita and Loomis, a Sacramento suburb, but now no longer are as effective in producing business, said London.
On its Web site, the Glendora CU said simply "effective July 8, 2009, the Loomis & Wichita branch offices will be closed as we move towards economic efficiencies of scale."
America's Christian CU, which has two other California branches and 25,000 members, serves church ministries across the U.S. and has a business model that is working satisfactorily despite the difficulties of other California CUs, said London. The CU reported income of $307,000 in 2008 though it experienced a sharp drop in the fourth quarter.
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