East Coast Credit Union will shut down three branches in northeastern Nova Scotia early next year.
The branches in North Isle Madame, Mulgrave and North East Margaree will close at the end of February, leaving 10 remaining in the credit union's network.
President and CEO Doug Hastings says the decision was difficult but necessary in the light of the economic downturn and business conditions.
Hastings says the financial services industry is becoming increasing competitive with interest rates at historically low levels.
Seven full-time positions will be affected by the closures.
Customer accounts will be transferred to other close-by branches.