COLUMBIA, S.C. — Charting a new "retail" approach as part of its branching strategy, AllSouth Federal Credit Union formally opens its first Wal-Mart branch Wednesday and has made plans for three more in-store facilities during 2007.
"This is all new territory for us but we're excited about opening in four stores this year and let me say Wal-Mart management couldn't have been more professional and cooperative in dealing with us," said Audrey Brown, vice president of marketing for the $400 million CU.
The grand opening for the Batesburg-Leesville branch in a new Supercenter on Wednesday is to be followed with facilities in Sumter, Camden and Lexington.
AllSouth, which has a field of membership covering eight South Carolina counties, "was approached at the end of last year about our interest" by Financial Supermarkets Inc. the Tennessee firm which has both bank and CU clients, said Brown.
With 14 branches, AllSouth's brick and mortar practice has been confined to mostly stand-alone units "so this is a departure and we are admittedly a bit anxious." Still the potential for growth is important, she said noting banks had previously occupied some of the Wal-Mart sites, but "pulled out and we're not sure of their reasons."
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