Silver State Schools Credit Union to close three branches


Silver State Schools Credit Union plans to close three of its 12 Las Vegas area branches by mid-January, the struggling credit union announced Wednesday.

"The credit union sees this consolidation of its Las Vegas area branch network as a proactive step in continuing to reduce costs, while maintaining the highest quality of service to (our) members," said Andrew Hunter, president and CEO of Silver State.

The branches to be closed are at 9325 W. Sahara Ave, 7345 S. Durango Dr., and 7151 W. Craig Rd., which is located inside an Albertson's market.

Hunter said employees affected by the closures will be offered, wherever possible, the opportunity to relocate to other branches with staff openings.

The decision to shutter three branches was announced about a week after the credit union announced it lost $2.8 million in the third quarter, bringing this year's total loss to $5.5 million.

Silver State Schools is currently operating under a supervisory agreement with Nevada regulators. The credit union is insured by American Share Insurance Inc. of Columbus, Ohio, which two years ago extended a $22 million capital loan to the company.

Hunter said the credit union's members will continue to be served by "a strong network of nine branches." He said there is also a "robust offering" of electronic services, including online banking and bill pay.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.

 

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