Omaha’s SAC Federal Credit Union said it has won regulatory approval to double its market penetration from four to eight counties in Nebraska and Iowa.
The extended field of membership for the $517 million, 65,000-member CU headquartered in Bellevue, Neb. includes the counties of Washington, and Saunders in Nebraska and Mills and Harrison in Iowa.
SAC FCU, Nebraska’s largest, said it is looking at opening three or possibly four retail branches to serve communities in these counties.
Gail DeBoer, president/CEO, said Tuesday the planned expansion has been under study during the past year and follows “many inquiries received from our members in the Council Bluffs area and in the many rural communities which do not have credit union representation and had sought us out.”
SAC already has a successful branch in a Council Bluffs Walmart “and has been having discussions under way about a second one," DeBoer said. SAC hired a property consultant to scout new leased sites and is targeting certain communities for the facilities, she said.
SAC FCU’s expanded service area is home to an estimated 71,000 residents, according to the 2010 Census figures, "but the actual number of potential members is far higher,” said DeBoer.
SAC’s current FOM includes Douglas, Sarpy and Cass counties in Nebraska and Pottawattamie County in Iowa.