Numerica announces layoffs, restructuring

COEUR d’ALENE — Numerica Credit Union said Tuesday it was laying off 25 employees due to "the evolving economic landscape and the changing needs of its members."

“We value the contribution of all of our team members and deeply regret the need for these layoffs,” said Carla Cicero, Numerica president and CEO, in a press release. “We are committed to supporting our affected employees through this transition.”

No jobs will be lost in North Idaho.

Impacted team members will receive a severance package, including job placement support such as resume review and interview coaching, the release said.

The 25 layoffs are about 3.5% of Numerica’s workforce of 660 team members across North Idaho, Spokane, Tri-Cities and Wenatchee.

“As a member-owned credit union, we have a responsibility to adapt to the financial needs and preferences of our members,” Cicero said.

Numerica’s financial position remains strong, the press release said. All branches will remain open and services will continue uninterrupted. 

Numerica cited current inflation rates and challenges in the local housing market, caused by escalating housing prices and rising interest rates, as factors in the internal restructuring.

"These economic shifts are the driving force behind our members' evolving needs in terms of financial products and services," according to a statement from Numerica. "To ensure we are aligned with these changes, we’ve made the difficult decision to adjust staffing levels."

Headquartered in Spokane Valley, Numerica serves more than 175,000 members.