Many branch strategies are more experimental than practical, but experts said the most forward-thinking credit unions are embracing several key must-haves to keep their branches competitive.
1. Small footprints. The average branch is 2,116 square feet, according to a recent study by the Louisville, Ky.-based digital marketing firm Codigo. But Mark Charette, CEO of the Bloomfield, Conn.-based Solidus, which specializes in branch construction, said many projects his firm sees these days are 800 to 1,500 square feet.
John Smith, CEO of the Chandler, Ariz.-based DBSI, which also specializes in branch construction, said his firm is designing locations as small as 400 square feet.
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