SLFCU Breaks Ground on 12th Branch in New Mexico Near Old Town in Albuquerque
On February 24, 2023, SLFCU formally broke ground on our newest branch location at 1100 Rio Grande NW, just north of I-40 in Albuquerque. The facility is expected to open in late 2023 and will be called Rio Grande Crossing.
“We are very excited to add a branch in an area near Albuquerque’s Old Town that has few banks or credit unions nearby. At a time when many banks are consolidating operations and closing branches, we are investing in the communities we serve and are committed to being an economic engine that helps them grow and prosper,” said Stephanie Sherrodd, SLFCU’s CEO.
The new facility will be SLFCU’s 13th branch overall, and its 12th in New Mexico. The Credit Union currently has nine branches in the Albuquerque area, two branches in Farmington, New Mexico, and a branch in Livermore, California.
The new branch is being designed in a New Mexico territorial architectural style to blend in with the nearby Old Town. The single-story, 4,400-square-foot branch will include teller stations and five offices, as well as a drive-up and ATM. MG Architects designed SLFCU’s new branch and Albuquerque-based Insight Construction Inc. is handling construction.
While the Credit Union fully leverages online and mobile banking tools for its members, it also believes in the importance of having the option to meet face-to-face. Even as online banking has continued to grow in popularity, more than a quarter of U.S. adults rank the ability to visit a branch as the most important retail bank benefit, according to a May 2021 Sykes survery.1 Additionally, a 2019 Deloitte Insights report found that branches should be considered the “most powerful channel” for financial services that providers have to provide customers with high-touch, person-to-person services.2
1https://www.sykes.com/resources/reports/2021-americans-banking-savings-preferences-behaviors/
2https://www2.deloitte.com/content/dam/insights/us/articles/4999_Global-banking-survey/DI_Bank-branches-digital-world.pdf
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