Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Altura CU to close Coachella branch
RIVERSIDE, Calif. (2/22/10)--Riverside, Calif.-based Altura CU will close its Coachella branch on March 24, according to Altura President/CEO Mark Hawkins. The branch originally was scheduled to close May 7, 2009. At that time, the City Council of Coachella intervened and asked Altura to reconsider, said Hawkins' announcement. The council, concerned about losing one of only two financial institutions in town, requested Altura keep the branch open at least through Dec. 31, 2009. "We understood their concerns and decided to give the location more time," said Hawkins. "Unfortunately, difficult economic conditions continue to affect the Inland Empire, including Coachella." Hawkins noted the area's high unemployment and foreclosure rates "created challenges for all financial institutions, us included. It was a very difficult decision and one we hoped we wouldn't have to make in 2010." All positions at the branch are being eliminated. "Our Coachella employees have been offered severance packages, outplacement services and Altura's loan modification packages to assist them in this transition," Hawkins said. Altura has $890 million in assets.


RSS





print
News Now LiveWire
Final field-of-membership rule tops April 30 NCUA agenda http://t.co/gFIhRhUCts
14 hours ago
.@CUNA's @Nussle speaks to @VonnieQuinn about #StoptheDataBreaches and reg. relief. http://t.co/TMTubG9Afk
16 hours ago
RT @NCUFoundation: .The Foundation's @hylandhighway with @NatlJumpStart President/CEO Laura Levine at #FLHillDay2015 today: http://t.co/ep5…
19 hours ago
Seriously underwater homes rise, new-home sales tumble News Now: http://t.co/2LzWTkqnES
19 hours ago
#NewsNow Cornerstone Foundation awards $71K in grants http://t.co/Y6D8K9rwWv
21 hours ago