The $1.8 billion Grow Financial Federal Credit Union is expanding from Florida into South Carolina.
The 156,000-member Tampa-based credit union said this week that it plans to open three branches in the capital city of Columbia this year and next. Grow Financial began by serving MacDill Air Force Base and is open to all active and retired military as well as more than 1,100 SEGs.
Columbia is home to Fort Jackson, a major Army training base, and has a large retired military population. Navy Federal moved into the market in 2010.
The Florida credit union has been executing a growth strategy in its home state that has seen it grow to 19 branches, with the 20th expected to open next month in Lakeland and the 21st in Wesley Chapel.
Grow Financial said it plans to open 15 branches across the Palmetto State, expanding from Columbia to Greenville, home to a BMW assembly plant and other major industrial employers in the Upstate, and to Charleston, the historic port city in the Lowcountry.
The credit union said it has hired two employees so far in South Carolina, both longtime residents of the state. Chase Clelland is vice president of operations and had been business development manager for AlliedBarton, Grow Financial said. John Paul is dealer relationship representative. The credit union said it already has established some indirect lending relationships there.
“We are excited to expand our membership into South Carolina, and offer our products and services to an entirely new group of members”, says Jason Moss, Grow Financial’s senior vice president, Delivery Channels.
“We want to be present to serve not only individual members, but also businesses, while helping the state be proactive in their business development growth objectives,” Moss said.
“The look and feel of the new Grow Financial branches that will be opening in Columbia will feature an innovative and refreshing alternative to traditional bank lobby designs, a contemporary color scheme, and unique interactive technology,” the credit union said in its announcement.