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On-Site Coverage: CUs Leasing Space for Mini-Branches

NEW ORLEANS - Credit unions are experimenting with leasing small spaces for mini-branches, rather than buying or constructing larger locations.

By Heather Anderson | Updated on May 17, 2010

NEW ORLEANS – Credit unions are experimenting with leasing small spaces for mini-branches, rather than buying or constructing larger locations. The best practice was among those shared by industry consultant Bill Goedken during his break out session at the CUNA CFO Council Conference today.

Strip malls offer some great deals these days, Goedken said, especially if a credit union can find an appropriate space, like an end unit that has potential for a drive-thru. He shared one credit union’s strategy of opening three leased-space branches to compete with just one new bank branch.

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