Langley FCU Eyes Branch Growth in Two States as Other CUs Expand Footprint

Langley Federal Credit Union of Newport News, Va., announced Tuesday that it plans to open a branch in Raleigh, N.C., this month and one in Richmond, Va., in October.

Langley ($5.2 billion in assets, 363,353 members as of June 30) began in 1936 to serve what is now Langley Air Force Base in Hampton, and grew to serve the entire Hampton Roads area, which includes Virginia Beach, Norfolk and Newport News.

Kelli Ragland, Langley’s vice president of marketing, said the credit union spread along the Tidewater to the fall line as members moved to Richmond, the Washington, D.C. area, and into North Carolina.

“We have strong membership in North Carolina, which started in the Elizabeth City/Outer Banks area and is growing in the Raleigh market,” she said. “The Outer Banks is a destination for Raleigh residents and we have seen steady growth there over the past few years.”

Langley said it attributes its growth into the Elizabeth City/Outer Banks market to:

1. Its proximity to Langley’s southern-most branches.
2. The credit union’s advertising, which plays in that market as a result of its proximity.
3. The abundance of people who live in this area of North Carolina, but work in the Hampton Roads market.

Meanwhile, four other credit unions have announced branch openings:

Consumers Credit Union of Oshtemo, Mich. ($2.1 billion in assets, 133,660 members as of June 30) opened a new branch Aug. 22 in Kalamazoo, Mich. The Woods Lake office is the credit union’s 27th branch in Michigan. NCUA data showed it added four branches in the 12 months ending March 2023.

Merrimack Valley Credit Union of Lawrence, Mass. ($2.3 billion in assets, 116,725 members) is planning a grand opening Saturday for its new branch in Hanover, Mass., which will be part of its Bridgewater Credit Union division. Merrimack Valley acquired Bridgewater in 2018.

Mid-Oregon Federal Credit Union of Bend ($692.4 million in assets, 45,380 members) held a ground-breaking event Aug. 24 for a new three-story, 15,945-square-foot office building and branch in Bend, Ore. The building in Bend’s Old Mill District is expected to be completed by early 2025.

Summit Credit Union of Madison, Wis. ($6.6 billion in assets, 248,245 members) announced Aug. 30 it had expanded into Green Bay with two branches, one at 2350 South Oneida St. and another 10 miles north in the Howard community.

President/CEO Kim Sponem said Summit already has a large presence in Wisconsin’s two largest metro areas — Madison and Milwaukee.

Green Bay is 120 miles north of Milwaukee along the western shore of Lake Michigan and about 100 miles north of West End, where Summit completed a bank purchase in October 2022. It added four branches in the 12 months ending March 2023.

“There is still room for growth,” Sponem said. “We believe there is a lot of potential for us to help people in the Greater Green Bay area. Given that, along with its size, and our 2022 bank acquisition of Commerce State Bank taking us in a northerly direction, we feel like Green Bay is the next logical city.”