Arrowhead sells Barstow branch
Location among five in high desert acquired by Alaska USA
BARSTOW • Arrowhead Central Credit Union’s Barstow location will soon be acquired by Alaska USA Credit Union, pending regulatory and member approval.
The Barstow branch of Arrowhead is one of five area locations that Alaska USA will soon acquire. The rest are in Big Bear, Apple Valley, Hesperia, and Victorville.
Arrowhead president Larry Sharp said that besides a new name, account holders should notice few discernible differences.
“Our products are very similar. In most cases a checking account is a checking account, with ATM cards and debit cards. The products are similar.”
Alaska USA Senior Vice President Dan McCue said that Alaska USA offers better rates and better fee schedules.
The branches of Arrowhead to be acquired by Alaska USA have 24,000 members with deposits of $114 million and loans of $95 million, according to an Arrowhead press release. The Barstow branch has 4,300 members in a city of 23,000 people.
As a result of shedding the five branches, Arrowhead will increase its net worth.
Despite the far-away name, McCue said that he is focused on the local market and individual account holder, saying that they have had a presence in the area since last year.
In July 2009 Alaska acquired the assets of two Victor Valley credit unions that were severely damaged by the real estate crisis. Alaska USA has assets of more than 3.3 billion and 390,000 members, according to company figures. Founded in 1948, Alaska USA is the largest financial service provider in Alaska, and also has locations in Washington State.
If approved, all Arrowhead accounts will become Alaska accounts on June 6.
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(760) 256-4126 or adome@desertdispatch.com
