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Saturday, May 9, 2015

Arizona State Credit Union pulling out of Payson

By Jim Keyworth
Gazette Blog Editor

Despite claims of coming economic growth and an imminent four-year university by the Payson Roundup, Payson Mayor Kenny Evans, and various and sundry Chaparral Pines fat cats, one financial institution begs to disagree.

In a letter to members dated May 6, Arizona State Credit Union announced it is pulling out of Payson "on or before July 31, 2015" following an "in-depth review" of Payson branch activities and an examination of "the economic growth of the Payson area."  The letter was signed by AZSCU President/CEO David E. Doss.

Doss encouraged Rim Country members to use the institution's online banking services and a full-service ATM that will "remain in place at this time."

While the town and the Roundup will no doubt scramble to put a damage control spin on this development, a decision of this magnitude by a financial institution that has been a fixture in Payson for many, many years is a serious blow to their credibility.

Don't plan on getting a four-year degree in Payson anytime soon.

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