Enjoying a burst of member and loan growth in 2012, the $5.2 billion Randolph-Brooks Federal Credit Union of Live Oak, Texas, said this week it is cementing its ties in the Austin market by opening its first regional headquarters, a new Administrative Service Center.
Calling itself “the fastest-growing credit union in Austin,” the 400,000-member suburban San Antonio credit union said its new center formally opened last week in northwest Austin and is housing 50 employees in member service, consumer and mortgage lending and business services.
In addition to the administrative unit, RBFCU is anticipating future growth in the area and plans to open several new branches throughout metro Austin, said Sonya McDonald, senior vice president-planning/marketing development.
The exact timetable for the new branches to be opened next year was not spelled out but McDonald said RBFC is solidifying its commitment to the capital city “based on the membership boom we have received.”
Included in the branch sites are the Domain shopping center in northwest Austin and a Slaughter Lane unit in south Austin.
Land has been purchased for a Dripping Springs facility and RBFCU is looking at purchasing land at MoPac and I-290, McDonald said.
McDonald said RBFCU purchased the service center property in Austin in mid-2010 and rebuilt a former homebuilder’s corporate location to meet credit union needs.
Last March RBFCU opened its first retail facility in a Randall’s supermarket at the Steiner Ranch center and so far “we’ve been pleased with the growth welcoming almost 250 new members,” McDonald said.
“We are serving members where they need us – whether it’s in one of our new branches, online, by phone or by mobile,” she said, noting that in San Antonio RBFCU developed a branch structure along major thoroughfares where the city was seeing growth along Loop 1604 and along IH-10.
Overall, RBFCU said at the end of the second quarter its annualized asset growth stood at 13.59%, loans at 10.18% and deposits at 14.67%. RBFCU has capital of 13.63% and ROA of 1.47.