A+ Federal Credit Union is finding brick-and-mortar branchesstill quite popular with Gen Y in hip, wired Austin, Texas.
|In fact, a recent internal survey found 79% of Gen Y membershave performed a transaction at a branch “and we think that'spretty high,” said Kerry Parker, president/CEO of the 100,000-member, $955 millioncredit union in Texas' capital city. “Our members just love'em.”
|The trend in Texas lately among banks has been to reduce thenumber of branches but A+ expects to continue expanding brick andmortar while it also adds to the high tech product and serviceline, said Parker.
|Using data from SNL Financial, the Texas Credit Union Leaguenoted that last year there were 151 branch openings but 189closings, a net loss of 38, one of the larger state drops in theU.S.
|Parker said her credit union currently has 15 branches in hercompetitive market, with two branches opened in 2010, one lastyear and two more planned during the next three months, includingone at a high school and the other in suburban Cedar Park.
|The A+ CEO told the Texas League that “after reviewingsurveys and transaction information, we found that an overwhelmingmajority of our members access A+ through a variety ofchannels—including the branch. The reality is consumers wantconvenience and accessibility, and each individual has a differentdefinition for that.”
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