RAPID CITY, S.D.–MED5 Credit Union here has opened a new branch that features not just a new design but also a coffee shop that raises funds for charity.
In addition to an open design that uses non-traditional teller pods rather than lines, the credit union has formed a new venture, “The Bean Counter,” a registered 501 C (3) not-for-profit coffee shop, with all proceeds donated to charities.
“We have a board of directors for The Bean Counter, and they determine where the profits will be donated based on needs,” said Pam Brown-Graff, president of MED5 FCU. “The coffee shop even has its own drive thru, and is already acquiring quite a following. Our members are loving the new, modern concept and are thrilled with The Bean Counter and its charitable concept. Who wouldn’t like to have an amazing cup of coffee while making a deposit or getting a loan?”
‘Plan is Working’
The coffee shop includes a conference room that groups may use free of charge.
“We hope that providing a nice meeting space will not only boost coffee sales, but will continue to help MED5 grow new members, and the plan is working,” added Brown-Graff.
MED 5 FCU partnered with HTG Architects on the design. The entire site is approximately 75,000 square feet, with the centerpiece is the new, bold two-story building, the credit
union said. Inside, the main level has 8,400 square feet, with another 6,500 on the upper level. The main level consists of retail space for transactions, safe deposit boxes and lending offices, along with two concierge stations that allow the member service representatives to better serve their members.
“Nationally, with transaction counts on a slow decline, a trend of the future for credit unions is to get non-members into their buildings to increase brand awareness,” said Jeff Pflipsen, president/partner of HTG, referring to the coffee shop. “The strength of this facility is the seating and gathering space for the credit union and coffee shop to blend together, because it’s all incorporated into one space. This is called co-branding, which is the future. Moving forward, the credit union will have five to 10 non-members sitting in their lobby throughout the day – even when the credit union is closed. This creates great visibility for the credit union.”
Space Leased on 2nd Floor
On the upper level of the new building are corporate offices, a board room and a break room. In addition, there is a rooftop patio for employees to enjoy outdoor breaks and special events. There is a second 900-square-foot additional co-branding space on the upper level, which is occupied by a law firm, creating even more non-member traffic in MED5’s building.