Arrowhead Central Credit Union Announces Branch Closures And Layoffs

 

November 30, 2010, San Bernardino, CA Arrowhead Credit Union will close eight branches and lay off 37 employees by the end of 2010 as part of a consolidation plan to designed to improve its financial health.

 

The Loma Linda, Beaumont, Wildomar, San Bernardino, Fontana and Corona branches inside Stater Bros. grocery stores will close, along with two Arrowhead Credit Union stand-alone locations: San Bernardino (Mt. Vernon Avenue Branch) and Norco.

 

According to Arrowhead, the closures are part of a plan to continue to reduce expenses and bring the credit union back to profitability and remain in the community. Eleven stand-alone branches remain open, with hours of operations set to expand in January. The remaining branches are in in Chino, Crestline, Fontana, Highland, Rancho Cucamonga, Redlands, Rialto, Riverside, Yucaipa and San Bernardino (Sierra Way and Del Rosa Avenue.)

 

Arrowhead Credit Union was placed into NCUA conservatorship June 25 because of its declining financial condition.

 

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