EL PASO, Texas—New, smaller footprint, high-tech offices are allowing GECU to do business in many more prime locations, a move the CU is crediting with boosting membership growth and staff effectiveness.
CEO Crystal Long said GECU’s “Neighborhood Branches”—on average about 2,700 square feet and loaded with self-service technology like ITMs, video walls and touchpads—are serving an emerging member type: those who like technology and use remote services but also want to touch the credit union.
Long added that the new offices are also allowing branches to handle more business. She said 60% of walk-in traffic is assisted electronically.
“This is optimizing our cost per transaction and certainly increasing FTE efficiency, while we still provide members with exceptional service,” said Long.
CUNA Excellence Winner
GECU recently received a CUNA Excellence Award in the Branch Design category.
Long said the “optimized branch model” is the main reason the $2.4-billion GECU is expected to exceed two-million transactions in 2017.
But it’s not just simple transactions that the new offices’ self-service features are handling.
“This year mortgage production through the offices’ self-service channels represents 5.6% of new loans,” said Long, who added that members are not limited in the business they can conduct at the high-tech locations. “They can make deposits, withdrawals, get cashier checks, open new accounts, and apply for mortgage and consumer loans.”
Along with the self-service offerings the new branches also have “personal offices,” private offices served by personal tellers. Like many new branch designs, there are no teller lines.
GECU, which has 13 of the new offices and 21 overall, said the Neighborhood Branches are signing up members at a faster pace than the CU’s standard locations.
“We recently celebrated our 350,000th member—a huge milestone. We think a lot of this is due to the convenience of the new offices as well as their extended hours,” said Long. The Neighborhood Branches are open until 8 p.m. Monday-Friday, and until 4 p.m. on Saturday.
Members Asking For Them
The first Neighborhood Branch opened its doors in 2011 and it was the first of its kind in Texas, said Long. Since then, the credit union has opened 12 more of the locations due largely to member demand.
“Members keep asking for them,” she said.
Virtually all of the Neighborhood offices are new construction, which Long said helps the CU remain relevant in the eyes of its members with modern-looking facilities “from top to bottom.”
While the new locations are staffed efficiently based on branch traffic patterns, adding offices has meant adding employees, which Long said has strengthened GECU’s standing in its communities.
“We’re continuing to provide jobs in our communities and creating additional opportunities for employees to cross-train and take advantage of different career paths,” she said.
Long reiterated that GECU’s branch strategy has been well received by members.
“Having a convenient location within a few miles of where you live or work is an added value for our members,” she said. “Managing your finances and having easy access is closer than ever. This, combined with our 24/7 online banking and mobile app makes it simple to work with us.”
Bricks And Mortar Not Dead
While debate continues as to the future of branches, Long believes bricks and mortar delivery is not dying.
“Neighborhood Branches remain important to our members,” said Long. “We serve members from all walks of life and they are able to choose the delivery channel that best meets their needs and lifestyle.”