Cal Fed to Open 97 Branches On New Year's Day.SAN FRANCISCO--(BUSINESS WIRE)--Sept. 30, 1999-- It won't won't Contraction of will not. won't will not won't will be business as usual at California Federal Bank California Federal Bank, often abbreviated to "Cal Fed", was a savings and loan bank in California. It existed from 1926 until 2002, when its parent company Golden State Bancorp was acquired by Citigroup, resulting in the bank being merged into Citibank. on New Year's Day New Year's Day, among ancient peoples the first day of the year frequently corresponded to the vernal or autumnal equinox, or to the summer or winter solstice. In the Middle Ages it was celebrated among Christians usually on Mar. 25. , 2000. The nation's second largest thrift thrift: see leadwort. is taking the unusual step of opening 97 retail branches on what is traditionally a bank holiday. Cal Fed is opening the branches as a convenience for its customers and to reassure re·as·sure tr.v. re·as·sured, re·as·sur·ing, re·as·sures 1. To restore confidence to. 2. To assure again. 3. To reinsure. those who may have concerns about the year 2000 as it relates to the bank's computer systems. "We've worked long and hard on getting our systems up to speed and Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 ready, and we don't expect any problems," said Scott Kisting, executive vice president and director of consumer and business banking. "However, the Y2K issue has been such a hot topic in the press, we can't ignore the fact that people may have some concerns about the issue -- especially when it comes to their money. We hope we can help alleviate Alleviate To make something easier to be endured. Mentioned in: Kinesiology, Applied those concerns by being here to help them." Most of the branches that will open January 1 are in residential areas or areas where people are expected to be "out and about," such as shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into . Of Cal Fed's 336 California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). branches, 90 will be open. The bank will open seven of the 16 branches it operates in Nevada. (See attached list of number of open branches by county.) The designated branches will be open from 9 a.m. to 1 p.m. (Note: the exact number and location of branches is subject to change.) The bank's call centers, at 1-800-THE-BANK, also will be staffed and ready to answer calls from 8 a.m. to 4 p.m. (Pacific Standard Time) on New Year's Day, 2000. Cal Fed customers have access to automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. account information through the same number round the clock. "We're aware that other banks and banking Authorized financial institutions and the business in which they engage, which encompasses the receipt of money for deposit, to be payable according to the terms of the account; collection of checks presented for payment; issuance of loans to individuals who meet certain requirements; officials have stated that there's no need to open on New Year's Day," said Kisting. "That's absolutely true. But we're not doing it because we need to. We're doing it because we want to. We think the 'usual' in 'business as usual' sometimes isn't good enough." California Federal Bank is the second-largest savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. in the U.S., with approximately $57 billion in assets and 352 branches in California and Nevada. The bank is a subsidiary of San Francisco-based Golden State Bancorp, a public holding company which trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol GSB GSB Graduate School of Business (Stanford) GSB Graduate School of Business (Chicago) GSB Government of the Student Body (Iowa State University, Ames, IA) . Cal Fed is a full-service community-oriented bank offering consumers and businesses the products and experience to help them achieve their financial goals. For more information on the companies, see our web sites at www.calfed.com and www.goldenstatebancorp.com. -0-
CALIFORNIA FEDERAL BANK
Branches Open(a)
New Year's Day
Saturday, January 1, 2000
9 a.m.-1 p.m.
CALIFORNIA
County # of Branches Cities (with 1 or more
Open open branches)
1. Alameda 4 (out of 16) Alameda, Berkeley,
Newark, Oakland
2. Contra Costa 2 (out of 10) Concord, San Ramon
3. Fresno 3 (out of 15) Fresno
4. Kern 1 (out of 3) Bakersfield
5. Los Angeles 29 (out of 100) Alhambra, Arcadia,
Canoga Park, Cerritos, Covina,
Culver City, Downey,
El Monte, Encino, Glendale,
Hollywood, Los Angeles,
Monrovia, Northridge,
Pasadena, Rancho Palos
Verdes, San Pedro, Santa
Monica, Saugus, Sherman
Oaks, Torrance, Whittier,
Woodland Hills
6. Marin 2 (out of 6) Novato, San Rafael
7. Orange 9 (out of 33) Anaheim, Buena Park,
Costa Mesa, Huntington Beach,
Laguna Hills, San Juan
Capistrano, Santa Ana, Tustin
8. Placer 1 (out of 2) Auburn
9. Riverside 3 (out of 15) Hemet, Palm Desert, Riverside
10. Sacramento 3 (out of 9) Citrus Heights, Sacramento
11. San Bernardino 5 (out of 13) Big Bear Lake, Chino Hills,
Fontana, Redlands, Yucaipa
12. San Francisco 4 (out of 17) San Francisco
13. San Diego 9 (out of 25) Encinitas, Escondido,
Fallbrook, La Jolla, La Mesa,
Oceanside, Rancho Bernardo,
San Ysidro
14. San Luis Obispo 1 (out of 2) Paso Robles
15. San Mateo 3 (out of 13) Daly City, Millbrae, San Mateo
16. Santa Barbara 1 (out of 2) Santa Barbara
17. Santa Clara 4 (out of 15) Palo Alto, San Jose, Sunnyvale
18. Santa Cruz 1 (out of 2) Capitola
19. Sonoma 1 (out of 5) Santa Rosa
20. Stanislaus 1 (out of 5) Modesto
21. Tulare 1 (out of 4) Visalia
22. Ventura 2 (out of 11) Thousand Oaks, Ventura
NEVADA
County # of Branches Cities (with 1 or more
Open open branches)
1. Clark 3 (out of 8) Henderson, Las Vegas
2. Carson 1 (out of 1) Carson City
3. Humboldt 1 (out of 1) Winnemucca
4. Washoe 2 (out of 3) Reno, Sparks
Note (a): As of September 30, 1999. Branches open January 1, 2000 subject to change. |
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