MIRAMAR, Fla. — Who says the Internet might further stall brick and mortar branching? Not at the $2 billion Eastern Financial Florida Credit Union, which is on target to open three, more branches this year and seven more in 2008.
“Our goal is to have a branch within 10 miles of where our members live and work,” said Gary Lanier, senior vice president of sales.
In five years that will translate to 80 branches, more than doubling the 32 now operating. The track record so far is to open about seven branches a year, he said with openings planned this fall and winter in Kendall, Perrine and Coral Springs.
Community-based Eastern, with 900 SEGs, is fortunate to have 12% capital to undertake the expansion of physical sites, said Lanier.
The state's largest CU has learned, he said, that members in working, two-family households want the convenience of gaining access to a branch, said Lanier.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
