Wilmington's Credit Union to close its doors

Reported by Gavin Johnson - bio|email
Posted by Debra Worley - email

WILMINGTON, NC (WECT) - After serving customers in Wilmington for more than five years, Credit Union will be closing its doors - leaving close to 1,500 people without a bank.

Branch manager Andres McKoy was used to helping his clients prepare for their financial future, but now he's having to think about his, as the financial institution closes November 25.

McKoy said he was told it costs more to operate the Wilmington location compared to the eight other North Carolina branches, which are still open.

Once the doors close, the closest Generations location is more than 100 miles away from Wilmington, making it difficult for clients who want to stay with the company. 

"We have internet banking they can use, they can bank by mail or bank by phone, or use their ATM check card -that's their only option," said McKoy.

Generations customers want to stay with the bank because the Credit Union employees treated them like family and would do everything they could to help.

Clients said the bank helped them start a business account or get their credit back on line.  Now they will have to prepare to make some major financial changes and find new banking.

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