Despite the overall drop in the Midwest, three other credit unions have recently expanded there:

Michigan Schools and Government Credit Union of Clinton Township ($4 billion in assets, 153,455 members) announced May 21 that it has opened its eighth branch in Oakland County and its second in Rochester Hills, which is 20 miles west of Clinton Township and 28 miles north of Detroit. Its first Rochester Hills branch opened in November 2023. In June, the credit union plans to open a branch office in Clawson, 10 miles south of Rochester Hills, which will be the credit union's ninth branch in Oakland County. "As our membership in the Rochester Hills area grows, MSGCU is dedicated to providing conveniently located branch offices that make it easy for our members to visit us for in-person guidance on their financial goals," President/CEO Steve Brewer said. MSGCU had 23 branches and other locations on March 31, one more than three months earlier.
Affinity Plus Federal Credit Union of St. Paul, Minn. ($4.5 billion in assets, 282,338 members) announced June 9 that it has opened a new branch in Hopkins, Minn., about 25 miles west of St. Paul. The Hopkins branch serves more than 4,500 members living within a 5-mile radius. "After months of careful planning, we're thrilled to open this new branch as part of our commitment to supporting our growing members in the metro area," Branch Manager Rich Powell said. It had 33 branches on March 31, three more (+10%) than a year earlier and one more (+3.1%) from the previous quarter.
Alltru Credit Union of St. Louis, Mo. ($364.3 million in assets, 40,059 members) announced June 6 that it has opened a new branch in Florissant, Mo., about 20 miles northwest of downtown St. Louis. "Florissant has always been about community, strong families, hard work and neighbors looking out for one another," President/CEO Michelle Rosner, a Florissant native, said. "Those are the same values that drive Alltru Credit Union." The Community Development Financial Institution (CDFI) had four branches on March 31, unchanged in the previous 12 months.

The South region had 7,979 branches on March 31, two fewer than the previous quarter. It lost 159 (-2%) from December 2019 to December 2020and since then has gained 266 (+3.4%).The central South states that include Texas (+23) to Alabama (+57) gained a net 15 branches, but the South Atlantic states lost 17 locations despite a gain of 42 in Florida. Recent branch announcements in the South included:

Alabama One Credit Union of Tuscaloosa, Ala., 60 miles southwest of Birmingham ($1.4 billion in assets, 94,589 members) will open branches Wednesday in Dothan and Samson, both about 200 miles southeast of Birmingham. The credit union serves people associated with 23 Alabama Rural Electric Cooperatives, covering approximately 58 of 67 counties in Alabama. It had 29 branches on March 31, five more (+20.8%) than a year earlier and one more (+3.6%) than the previous quarter.
Redstone Federal Credit Union of Huntsville, Ala. ($8.2 billion in assets, 802,746 members) on June 6 opened its first branch in Smyrna, Tenn., about 20 miles southeast of Nashville. It is the Alabama credit union's fifth branch in Tennessee. It had 43 branches on March 31, two more (+4.9%) than a year earlier and unchanged from the previous quarter.
Abound Credit Union of Radcliff, Ky., 45 miles south of Louisville ($2.5 billion in assets, 117,790 members) announced May 29 that it has opened its Jeffersontown branch in Louisville, its second branch in Jefferson County.

Abound President/CEO Ray Springsteen said it is expanding in an area where many of its members live. "We have 120,000 members — 10,000 of them live in Jefferson County. This new branch is proof that we are ready to make more possible for hardworking Kentuckians," he said.

Instant Insights /

Credit Unions See Big Drop in Branch Numbers

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