HOUSTON–Smart Financial Credit Union plans to close two branches it operates in Louisiana by March 15.
The Houston Business Journal quoted CEO Larry Seidl as saying the branches, which were acquired as part of an earlier merger, are being closed due to financial reasons. The credit union plans to focus solely on its Houston market, the Business Journal quoted Seidl as saying. Seidl indicated the credit union is reviewing the profitability of all of its branches.
“We’re looking at each of the branches and their income versus expenses and seeing how unprofitable each branch is, and we’ll determine if it’s a branch of the future,” Seidl told the Houston Business Journal.
As part of that effort, Seidl also indicated the credit union will focus on current members more than member acquisition.