Credit Union Goes Mobile With Branch Expansions

As it opens several brick-and-mortar branches, a Texas credit union is also taking its expansion on the road.

University Federal Credit Union (UFCU) of Austin ($4.1 billion in assets, 384,816 members as of June 30) on Monday rolled out its mobile branch as a way to reach more people in traditionally underbanked communities.

“Working with our community partners, we are committed to improving access to financial services for all Texans,” President/CEO Michael Crowl said. “The UFCU Mobile Branch is a significant step towards addressing the financial barriers traditionally underserved communities face. We appreciate the support and trust of our partners and the community as we embark on this important mission to ensure a thriving Texas includes all Texans.”

A UFCU news release said the mobile branch will help bridge the financial services gap for Texas’ unbanked and underbanked communities, which make up an estimated 24% of Texas households.

UFCU said people without access to a credit union or bank are almost 10 times more likely to use check cashing than banked households. The UFCU Mobile Branch eliminates check-cashing fees while also offering ATM access, account set-up, starter and cashier’s checks, instant-issue debit cards, money orders, fund transfers, loan and credit card applications, loan payments and notary services.

The UFCU Mobile Branch will also host educational seminars and feature bilingual staff to serve Spanish-speaking consumers.

Chris Turnley, UFCU’s EVP of membership, said the mobile branch will also be used in disaster recovery, local festivals, university sporting events and other events.

“The UFCU Mobile Branch allows us to build relationships and establish trust within these vital communities as we expand access to financial services and promote financial education in a convenient, accessible and welcoming environment,” Turnley said. “We’re thrilled to premiere the UFCU Mobile Branch, part of our overall effort to better serve and more deeply understand the needs of our community members.”

The credit union now has 25 brick-and-mortar branches following the opening of branches earlier this year in Georgetown and Cedar Park in Williamson County north of Austin.

This year it will also open:

• Its Highland branch at Austin Community College in Austin Aug. 26.
• Its Kelly Lane branch in Pflugerville, 22 miles north of Austin in Travis County, in September.
• Its previously announced branch at Texas State University, 50 miles northeast of San Antonio, in October.

Next year it plans to open branches at the University of Texas Medical Center in Houston and in Manor, 15 miles northeast of Austin in Travis County.