Local branches of Superior Choice Credit Union close
By Julia Wolf Superior Choice Credit Union has announced the closure of its Holcombe and Sheldon branches. The last business day for both branches will be Wednesday, Sept. 30. Gary Elliott, president of Superior Choice, says the decision was difficult to make. “But, in our business model, we need to have lending activity at branches in order for them to be profitable,” said Elliott. “The deposit activity was very good, very strong and very solid deposit base, but there was little to no lending activity going on in those branches.” He says the lack of lending activity led to the decision to consolidate the Holcombe and Sheldon branches, with the Bruce and Gilman branches. Elliott says employees at the affected branches could be moved to the Bruce or Gilman branches, if there are positions available. “We think the world of those employees,” said Elliott, adding he does not know what the position availability is. Elliott says the Holcombe branch building lease has been terminated, making it available for other institutions that may be interested. He says the company plans to list the Sheldon branch building for sale, after the company has vacated the building.