SHCFCU closes branch in Clatskanie

Published 4:00 pm Sunday, January 31, 2010

Citing a combination of factors, the St. Helens Community Federal Credit Union announced plans to close its Clatskanie branch as of Jan. 29.

Staff members at the Clatskanie office have been offered positions at other credit union locations, SHCFCU officials said.

The decision was made following several months of discussions regarding the lack of growth at the location and the overall condition of the economy.

Credit union officials said the decision was a difficult one, because the Clatskanie community is a significant part of SHCFCU’s membership base.

The closure is not reflective of the financial stability of the credit union, said Jeff Schwarz, president and CEO of the credit union.

“I assure you that this closure in no way reflects any instability in the credit union as a whole. St. Helens Community Federal Credit Union continues to be financially sound and a safe institution to conduct your financial needs,” Schwarz said.