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Chattanooga branch serving Hispanics to close
CHATTANOOGA, Tenn. (4/14/09)--The economy has taken a toll on a credit union branch that served Hispanics in Highland Park, Chattanooga, Tenn., the past two years. Because of the economy, Holston Methodist FCU, based in Knoxville, will close its Highland Park branch, located in St. Andrews Center, on April 30, officials told the Chattanooga Times Free Press. However, CEO Janet Tidwell said she hopes to consider opening another branch in Chattanooga when the economic situation improves. Most of the branch's 223 accounts and 160 members are Hispanic, Stacy Johnson, member development director of the credit union, told the newspaper. She is also director of La Paz, a neighborhood group. She noted there are ways for the branch's current members to keep their accounts with the credit union, but if they choose to close, the credit union is directing them to other institutions that serve the Latino community. Mike Feely, director of the St. Andrews Center, praised the credit union's excellent service and said he is looking for a credit union or other lender interested in a partnership. For many of the members of the branch, the credit union was their first involvement with a financial institution, Feely said in the article.
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