Citing economic factors, the $920 million Elevations Credit Union of Boulder, Colo. is closing a Denver area branch and laying off 13 employees, or 6% of its work force effective at the end of January.

Elevations officials attributed the “expense control initiative” to various factors relating to less than stellar performance in Erie, a north metro community which had once been primed for a 5,000-unit housing surge, but fell well below that goal.

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