Mountain America Expands Growth Strategy in NW Arizona
The CU is opening a branch in a sparsely populated region 300 miles south of its headquarters near Salt Lake City.
Mountain America Credit Union has opened a new branch in a sparsely populated area of Arizona 300 miles south of its headquarters near Salt Lake City and 350 miles north of Phoenix.
Mountain America ($17.3 billion in assets, 1.2 million members) announced Thursday that it will hold a grand opening Saturday at the new location in Colorado City, Ariz., in the Bees’ Marketplace — “the unofficial heart of the city.” Colorado City, with a population of just under 2,500 in the 2020 census, is in a region called the Arizona Strip, which has fewer than 10,000 people.
NCUA data showed the nation’s 4,780 credit unions had 21,835 locations as of June 30, having added 84 since Dec. 31. June’s count was still 134 fewer than in December 2019, before the pandemic.
Mountain America’s count of locations has grown from 98 at the end of 2019 to 105 locations as of June, including one added in Utah during the quarter, according to NCUA data.
“While many financial institutions are closing their service facilities, we are committed to adding branch locations and expanding our reach while deepening our connections within the communities we serve,” President/CEO Sterling Nielsen said. “This new branch will bring the full suite of our exceptional financial products and services directly to where our members shop, offering a great member experience.”
NCUA data showed Mountain America had 102 branches in addition to its headquarters and two other corporate locations in June. Utah is home to 73 branches, while it had 12 in Idaho, five in Nevada, two in Montana, two in New Mexico and eight in Arizona.
The previous Arizona branches were clustered in the Phoenix area. The closest branch to the new branch location is 24 miles northwest of Colorado City in Hurricane, Utah, which is in Washington County along Utah’s southern border.
Colorado City’s branch manager is Brandon Rea, who began his career at Mountain America three years ago as an assistant branch manager in Washington County.
Laurie Sandstrom, a regional manager of Mountain America, said Rea is responsible for developing team members who can help members enjoy “a high-quality experience.”
“His ability to inspire teams has been instrumental in the credit union’s ability to deliver on its mission of helping members define and achieve their financial dreams,” Sandstrom said. “He is a natural leader, with a proven history of driving his team towards excellence.”