Yet, the process of opening new branches, or remodeling existing ones, still plays a key role in many credit unions' business strategies, as evidenced by the number of news releases that continue to flow into CU Times staff members' inboxes on the topic. Here are some examples of new branch announcements I've received in the past two months, most of which highlight modern design and advanced technology:

VyStar Credit Union opened a new branch in Ocala, Fla., on July 10, which features a design that the credit union said "combines a fresh look with enhanced technology intended to increase efficiency and improve member experience." The Jacksonville, Fla.-based, $8.7 billion cooperative's new location includes four teller stations, five member service offices, three drive-thru lanes, one drive-up ATM and one walk-up ATM located in a protected vestibule with 24-hour access.
The $1 billion, Greenbelt, Md.-based Educational Systems Federal Credit Union opened a new branch in Forestville, Md., which it said features "a drive-up ATM, an ATM in the vestibule, teller pods to deliver a personal experience and a free coin machine," as well as "private offices for members to meet with Member Service Representatives for more in-depth conversations."
America First Credit Union's new, 3,254-square-foot branch in Brigham City, Utah contains six teller stations, a six-lane drive-up (one lane houses an ATM), a coin counter, two loan desks and a "remote expert" office. The Riverdale, Utah-based credit union has $11.2 billion in assets.
The $744 million LAFCU in Lansing, Mich., opened a new branch in St. Johns, Mich., which features two forms of technology that LAFCU said provide greater service at the branch level – something that will help the CU reach its goal of reducing its geographical footprint of the branch while increasing member service. The two high-tech features are interactive teller machines (ITMs), which combine ATM technology and face-to-face teller interaction via a video screen, and a Smart Office, which "virtually and securely connects members with LAFCU financial specialists located offsite."
The $420 million Ascentra Credit Union cut the ribbon in front of a new branch in Bettendorf, Iowa, where it's also headquartered, on Aug. 26. The four-story structure features "an open concept with collaborative workspaces, fun zones and breathtaking views of the Mississippi River," and a learning center on the first floor for educational seminars and gatherings. The credit union noted the new branch project brought 30 new jobs to downtown Bettendorf; it plans to add 40 more in the next 10 years.

One thing all of these new branch opening announcements have in common is a clear effort to make visiting the branch an enjoyable experience for members – investing in features that make it a place where members want to be, whether those features are large windows that showcase breathtaking views or high-tech equipment that simplifies banking and produces a wow factor. The idea is that if the branch is appealing, fun and designed in a way that puts the member at ease, they'll want to spend more time there, which may lead them to use more products and services, and tell people about it, which may lead to new memberships.

Instant Insights /

If You Build it, Will They Come? The Ever-Evolving Credit Union Branch

Related Stories

Recommended For You