One of evolve FCU's micro branch locations (Source: evolve FCU).
The El Paso, Texas-based evolve Federal Credit Union announced Thursday that it's "changing the game" for credit unions with the opening of three new micro branch locations around the city.
The three micro branches, according to evolve ($353 million in assets, 17,036 members), will allow members to conduct transactions on the interactive teller machines to make personal and auto loan payments, cash withdrawals and account transfers.
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According to evolve's statement, this move to micro branches is part of its overall business model change that was launched in 2015 to operate more efficiently by reducing its footprint. evolve said that since the change, the credit union has been able to reduce its operational costs and those savings can be passed along to its members.
Inside one of evolve FCU's micro branch locations (Source: evolve FCU). "One of their best impacts that came out of this change, their Patronage Dividend, where the credit union gives back to its members at the end of a successful financial year," evolve stated.
As part of its business model change, evolve's membership structure changed into a four-tier system: Basic, Plus, Platinum and Diamond elite.
evolve stated it plans to open up two more micro branches sometime in the fourth quarter of this year.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
