Six credit unions together serving more than 911,000 members have announced branch expansions from Minnesota to Florida.
Two of the expansions are in Florida, and are in addition to the plans for three branches in central Florida announced in February by Suncoast Credit Union of Tampa, Fla. ($16.9 billion, 1.1 million members). On Thursday, Suncoast said it had opened its new branch in Kissimmee, Fla., in Osceola County, and work was underway to open two other branches in Orlando later this year.
MidFlorida Credit Union of Lakeland ($7 billion in assets, 470,379 members) opened its 65th branch on April 24 in Bradenton, south of Tampa.
Vanessa Hernandez, MidFlorida CU’s chief of retail delivery, said the new 3,738 square foot Bradenton branch features the credit union’s “signature 7 a.m. to 7 p.m. extended drive-thru hours and full-service Saturday hours,” a drive-up ATM, three drive-thru lanes, and safe deposit boxes. The space also provides offices for mortgage and commercial lending.
“As we continue to expand our footprint throughout the Gulf Coast area, our strategically placed branches help bridge the service gaps in convenience not only for current members but also for non-members seeking other banking options,” Hernandez said.
“With the ever-increasing use of digital banking, we want the community to know that we strongly believe in creating and having in-person relationships with our members,” she said. “While convenience is important, we realize the value that in-person service provides and we know this is what sets us apart from the competition. In today’s ever-changing banking climate, people want to know the face behind who is managing their money.”
Community First Credit Union of Florida in Jacksonville ($2.7 billion in assets, 169,960 members) purchased a 1.23-acre tract in St. Johns County in April for its 22nd branch. The credit union plans to begin construction of the 3,000-square-foot branch in Murabella later this year and open the branch in 2024.
The branch the Mill Creek retail development will feature a full-service drive-thru, two ATMs (drive-up and walk-up), Community First’s signature tower feature and a historical mural depicting the history of the Murabella/World Golf Village area. It will serve the nearly 2,000 Community First members living within five miles of the shopping center. The Murabella branch will be Community First’s second location in St. Johns County, where it has served members with branch services for over 23 years.
John Hirabayashi, president/CEO, said the new branch in Murabella is part of the credit union’s Branch Transformation Project, which aims to enhance member service by configuring spaces to create a modern retail experience.
“This branch is part of our strategic focus to serve members where they are,” Hirabayashi said. “We are aggressively improving and expanding our local branch network to meet the evolving needs of our region.”
Community First said it is undertaking its largest one-time investment in its branch network with Murabella and two other expansion branches in the works. The credit union recently started construction on its 20th branch at Northpoint Village in North Jacksonville and its 21st branch at Beach and University Boulevards in South Jacksonville.
Arkansas Federal Credit Union of Little Rock, Ark. ($2.2 billion in assets, 143,883 members) broke ground May 12 for a new, $6.5 million branch in Rogers, Ark. When completed this fall, the branch will be Arkansas Federal’s second location in the city and in Benton County.
Arkansas FCU President/CEO Rodney Showmar said the branch at 1003 S. 52nd St. in Rogers represents a milestone for the credit union. The 7,904-square-foot facility at 1003 S. 52nd St. is the first the company has built from the ground up in northwest Arkansas.
“With this new location, we continue our investment in northwest Arkansas and on our promise to provide easier access to our products and services and expand on a broader commitment to open new branches across the state,” Showmar said. “We look forward to continuing to partner with local businesses and residents in the Rogers area to help them achieve their financial goals and further our mission to make a difference in the communities we serve.”
This new branch will employ 10 people, and will have four hoteling cubicles and a retail training room.
The three other credit unions expanding are:
- Magnifi Financial Credit Union of Melrose, Minn. ($2.2 billion in assets, 84,176 members), which announced Thursday it will open its fourth branch in the Minneapolis/St Paul area. The credit union expects the branch on Elm Creek Boulevard in Maple Grove to open in early 2024.
- ANECA Federal Credit Union of Shreveport, La. ($229 million in assets, 8,773 members), which opened its third branch May 25. The branch at 1981 Airline Drive is its second in Bossier City — 3 miles east of Shreveport across the Red River.
- Firelands Federal Credit Union of Bellevue, Ohio ($417.4 million in assets, 34,265 members), which broke ground May 22 for a new, full-service branch at 325 W. Perkins Ave, Sandusky, Ohio. It bought the 88-acre lot tract Feb. 22 and plans to open the 2,600-square-foot Erie County branch in the fourth quarter. Firelands FCU expanded its field of membership to include Erie County in 2019 and opened the first Sandusky branch located at 236 Columbus Ave in 2020.
“This new location provides our existing Erie County members with a convenient, full service location complete with a drive-thru and leaves us with plenty of room for future growth,” Firelands FCU President/CEO Brett Montague said. “We look forward to working with the City of Sandusky as we continue to grow our footprint within Erie County.”