Credit Union Branches Increase in First Quarter

With the help of Wright-Patt Credit Union and about 160 others, credit unions in the first quarter reversed a recent trend of declining branch counts.

Credit unions had 21,550 locations in U.S. states and territories on March 31, 35 more than they had Dec. 31. They also had 51 branches overseas, an unchanged number from December.

Branches had risen slowly in 2017, 2018 and 2019, with a net gain of 182 branches in the states and territories. But they shed a net 449 branches in the 12 months ending Dec. 31, 2020, including 100 branches from Sept. 30 to Dec. 31.

On Tuesday, Wright-Patt of Dayton, Ohio ($6.6 billion in assets, 426,927 members) announced it will open a new branch in Gahanna, Ohio, nine miles northeast of Columbus, on June 21. It also had a net gain of one branch last year and one in the first quarter.

The Gahanna location will be Wright-Patt’s seventh “member center” in Columbus and the largest of its 36 branches.

The Gahanna branch covers 7,200 square feet and includes the credit union’s first “Community Room,” which will be made available to local organizations at no charge to host meetings, networking activities and other events.

“It will provide a fantastic space for local nonprofits and small businesses to host community programs, events and meetings. It also allows us to carry out the credit union’s role as a true community partner,” Todd Elliott, the credit union’s president for the Columbus market, said.

The member center will feature an open lobby with freestanding dialogue-style teller stations that a news release from the credit union said will “allow for a better, more connected banking experience.

“Employees and members conduct their transaction side by side, enabling members to view their account information throughout the process. Financial Coaches working at the new member center will be available for one-on-one financial coaching to help its members reach their financial goals,” the news release said.

The branch also has drive-up Personal Teller Machines and ATMs.

“When we make the decision to enter an area, we want to become part of the fabric of that community,” Tracy Szarzi-Fors, vice president for market and business development, said. “Not only are we fully invested in helping members there achieve the financial flexibility and freedom they want, but we want to do our part to build a stronger community.”