LACEY, Wash.— The $4.3-billion Peak Credit Union has laid off 85 employees across multiple states, with the cuts early last week as the recently rebranded institution moves to adjust to what it described as current economic pressures, according to The Olympian.
The Olympian reported Peak Chief Growth Officer Michelle Anderson said the layoffs included 41 positions in Washington, 27 in Oregon and 17 in other areas, though it was not immediately clear how many of those jobs were in Thurston County, where the credit union is headquartered in Lacey.
“This was a difficult but necessary decision to align our organization with current economic conditions to ensure we remain strong, focused, and committed to serving our members and communities over the long term,” Anderson told The Olympian.
She added that affected employees are being offered severance, extended benefits and outplacement resources.
The layoffs land less than a year after TwinStar Credit Union completed its merger with Oregon-based Northwest Community Credit Union and adopted the Peak Credit Union name last fall. The Olympian noted the Lacey headquarters on Intelco Loop Southeast had previously served as TwinStar’s corporate office.
CUToday.info has reached out to the credit union for comment.
The Olympian also reported it had spoken with two former employees who said they were required to sign non-disclosure agreements in order to receive severance, though the publication said it had asked Peak to respond to those claims and other details shared by the former workers.