Sharonview Federal Credit Union in Indian Land, S.C., is shifting its branch-design strategy as a result of lessons learned during the pandemic.
The $1.6 billion-asset credit union’s newest branch in Shelby, N.C., opened this week and includes an open floor plan, concierge desk and what it called “member experience pods” that provide private spaces in an otherwise open setting. Five offices and a conference room are also available.
Additionally, the facility includes a drive-up ATM and a permanent walk-up window that allows staff to serve consumers outside the building if lobby access is restricted for any reason.
The new Shelby branch replaces a facility less than one mile away, but many of the changes incorporated into the new location will be part of the credit union’s branch design moving forward.
Nearly all Sharonview branches have been converted to the open-concept model, with the last two remaining facilities expected to be converted by year-end, according to Ricky Otey, the credit union’s chief operating officer and executive vice president. Six locations will also have permanent walk-up windows.
“We learned a lot from the pandemic,” President and CEO Bill Partin said in a press release Monday. “We factored in those lessons learned into designing a branch that will serve us and our members well for years to come.”
He added, “We’re ready for another extraordinary, although unlikely, event, such as a pandemic. If the lobby is closed, we can still serve our members’ financial needs.”
Sharonview FCU posted earnings of nearly $1.6 million last year, compared with almost $7.4 million in 2019, according to call report data from the National Credit Union Administration. That decline was driven in part by a contraction in lending, with loan balances falling by about 18% year over year to close 2020 at $1.1 billion. First mortgage balances fell by more than 25%, though second mortgage balances rose by 46%. Charge-offs fell by about 5% to total $9.2 million, with much of that concentrated in used car loans.
