Wescom Credit Union · Pasadena, CA United States
Company Description
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This link will open in a new window At Wescom, you're welcome. Through about 45 branches in Southern California, Wescom Credit Union provides checking, savings, and money market accounts, IRAs, savings certificates, home loans, reverse mortgages, auto loans, and Visa credit cards to more 330,000 member-owners in seven counties. Its Wescom Financial Services division offers trust, investment, and financial planning services, while Wescom Insurance Services sells auto, home, life, and health coverage. The credit union's Wescom Resources Group unit provides technology services, including online banking, bill payment, and statements, for other credit unions. To read the full description, subscribe now.
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Key Wescom Credit Union Financials
| Company Type | Private - Not-for-Profit Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $282.5 |
| 2008 Employees | 925 |
Wescom Credit Union Executives
43 executives listed for Wescom Credit Union's Pasadena, CA location.
| Title | Name & Bio | Contact |
| Chairman | Virginia Panossian | Network |
| Vice Chairman | Brad Selby | Network |
| President and CEO | Darren Williams | Network |
Competition
Competitive Landscape for Wescom Credit Union
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Wescom Credit Union Competitors
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