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CU System
Pa. CU prepared for Harley-Davidson restructuring
YORK, Pa. (12/7/09)--Harley-Davidson Inc. announced Thursday it will retain its motorcycle operations in York, Pa., and will restructure its operations. The company credit union said it is prepared to help the motorcycle manufacturer. The company had considered moving the York plant to Kentucky. The announcement follows the approval of a seven-year labor agreement by union employees early last week (Life is a Highway Dec. 4). “[I am] pleased that they are staying in York, for all concerned,” Sherry Garner, CEO of HD York (Pa.) FCU, told the Pennsylvania Credit Union Association (PCUA). “Management at the credit union had already addressed this scenario in previous planning sessions, so it didn’t hit us with the full force some might have expected.” When talk began that the plant might shut down, the credit union began exploring its options for survival, PCUA said. With Harley-Davidson’s latest announcement, the credit union can revisit its options. “We plan on forging ahead, putting our current planning session and goals into action and remaining HD York FCU,” Garner told PCUA. “From our members’ reaction to the possible relocation and downsizing, we know they want their credit union to remain right here in York as it operates now.” Though the plant will remain in York, hundreds of employees will still lose their jobs under the new contract. The plant will employ about 1,000 hourly employees, down from the current 1,950; and 150 salaried employees, down from 270, the company said. For those impacted, the credit union will work with each member and offer options such as converting to a monthly payment plan, loan extensions, or reworking loans to lower monthly payments, Garner told PCUA. Because the new contract also contained salary decreases, the credit union is planning budgeting workshops for all members. HD York FCU has $4.3 million in assets.
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