MINNEAPOLIS — We've all heard the phrase "location, location, location," but what if selecting the right site could make a difference of as much as $100 million in deposits?
According to W.D. Winter & Associates Principal Bill Winter that is exactly what is at stake.
"Sometimes you can run the worst credit union in the history of the industry, and if it is in the right spot, it can be successful. Over 10 years, a branch in the right location can make $120 million or in the wrong place $2 million," said Winter. "That is how much of an impact the site-selection decision will have on the future of a credit union from both profitability and in terms of opportunities to grow."
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