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When the local transit authority began looking at allU.S. Credit Union's current headquarters as the site for a new station, the CU went shopping for its next location. The $37 million credit union serving 3,700 members found a nice spot in the heart of Salinas, Calif.-and an opportunity to be a great neighbor.
By prepaying its 40-year lease on the city-owned lot, allU.S. CU effectively fronted the local library (the CU's new neighbor) $1.4 million for a much-needed expansion. "We have plenty of equity, so why not use it for a good purpose?" says CEO Patrick Redo, a CUES member.
The arrangement afforded the credit union "great PR," Redo says, as well as a prime location in the heart of the retail district and the opportunity to introduce a new model of "dialogue banking."
The CU's current office is located next to a Laundromat, which draws 50 to 60 people a day in foot traffic. In contrast, the library serves up to 1,000 people daily, and the new allU.S. CU office will offer its meeting room for community use, which will further increase exposure for the CU, which recently expanded its membership. The credit union also plans to offer financial education for local residents in partnership with its new neighbor, especially for the largely unbanked immigrants who live and work in the area.
The new office will feature a more open design, replacing the traditional teller counter with pods equipped with cash recyclers. Employees bearing tablets will greet members at the door, guide them to pods or private offices, and continue the interaction by plugging the tablets into docking stations, Redo explains.
"We sent our staff out to visit banks in the area to see what they liked and didn't like," Redo says. "They came back and said, 'We don't want to do anything they're doing.'"
CUES Supplier member La Macchia Group, Milwaukee, which designed the new office, also did some secret shopping and came up with a concept "that offers a consultative, member-friendly environment that will set the credit union apart from competitors," says VP/Planning and Real Estate Ben La Macchia.
"We really wanted to take their brand and reflect it in the design," he adds. "There's a lot of natural light, and the building will take advantage of high traffic counts and the retail presence in the downtown. It makes the best use of the real estate, and the stone exterior pays tribute to the surrounding landscape."
All in all, the new office will be a big shift from current quarters in a converted Sizzler restaurant. "Our slogan is Positively Different," Redo notes. "Our new approach to banking and our partnership with the city will show that in action."
