Collins Community Credit Union lays off 38 employees

CEDAR RAPIDS — Collins Community Credit Union eliminated 38 Cedar Rapids positions last week.

The layoffs happened on Oct. 6, according to a Worker Adjustment and Retaining Notification Act, or WARN, listing filed by the company.

Collins Community Credit Union, located at 1005 Blairs Ferry Rd. NE, provides financial services to anyone who lives or works in Black Hawk, Dubuque, Linn, Johnson, Polk and the surrounding counties.

Vice President of Corporate Strategy and Marketing Mai-Linh Hoang said the layoffs are due to changing industry market trends.

“While some services are growing, others are slowing,” she said. “For Collins Community Credit Union, this has resulted in an internal restructuring, which included the elimination of some current positions.”

She said most of the layoffs came from the company’s mortgage division.

“We have taken a very deliberate approach to provide resources to affected individuals with a separation package and finding new employment opportunities,” she said.

The company, which began in 1940, has grown to become the fourth largest credit union with more than $1 billion in assets. The company currently has branches in Cedar Rapids, Cedar Falls, Des Moines, Dubuque, Iowa City, Marion and North Liberty.

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