By PE Business
on July 23, 2010 12:31 PM

Layoffs at Arrowhead Credit Union started today.

According to the National Credit Union Administration which seized the San Bernardino-based financial institution on June 25 and has since overseen its management, the agency laid off 27 people.

“As part of our ongoing management of Arrowhead, we are making decisions that maintain service while preserving member assets,” said NCUA spokesman John McKechnie.

I also asked if any plans were in the works to close branches. He said no decision has been made.

— Kimberly Pierceall