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Branch Locations

  • 1.  Branch Locations

    Posted Jun 27, 2019 02:58 PM
    ​Hello,

    We're looking at opening an off-campus branch (currently we're housed inside the hospitals). We have a map of where our current members live and are looking at space @ there. Some years back I read something that stated something along the lines of 'consumers bank 3-5 miles from where they live'.

    Does anyone happen to know where I can obtain this type of info?

    Thank you,



    ------------------------------
    Monica Lopez
    President/CEO
    Allied Healthcare FCU
    Long Beach CA
    562.933.0370
    ------------------------------


  • 2.  RE: Branch Locations

    Posted Jul 15, 2019 08:00 AM

    Ms. Lopez:

    We have contacted Raddon for this information in the past.

    Our problem: They often talk about a 5 mile radius (as you mention), but in some cities, we have multiple branches within that radius. As such, the data loses value.


    Also, we've heard  members bank "within 3-5 miles of where they live, work or play...". Of course they do! What else is there???

     

    If you put a branch close to "where they live", will they bank there? Or, will they bank near where they work?

    It's tough to determine.

    The best we've done is to take the 3-5 mile data from those aggregators like Raddon or Filene and apply some local insight from the local chamber.

    Good luck!

     

    Kurt Schmidt
    Vice President Of Information Technology
    Capital Credit Union
    P.O. Box 2096
    204 West Thayer Avenue
    Bismarck, ND 58501
    Direct: 701-355-7742

     

     

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    Hello, We're looking at opening an off-campus branch (currently we're housed inside the hospitals). We have a map of where our current members...

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    Branch Locations

    Monica Lopez

    Jun 27, 2019 2:58 PM

    Monica Lopez

    Hello,

    We're looking at opening an off-campus branch (currently we're housed inside the hospitals). We have a map of where our current members live and are looking at space @ there. Some years back I read something that stated something along the lines of 'consumers bank 3-5 miles from where they live'.

    Does anyone happen to know where I can obtain this type of info?

    Thank you,



    ------------------------------
    Monica Lopez
    President/CEO
    Allied Healthcare FCU
    Long Beach CA
    562.933.0370
    ------------------------------

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  • 3.  RE: Branch Locations

    Posted Jul 15, 2019 06:19 PM
    Much also has to do with population and the time it takes to get from work to the.financial institution.  If they can't get home before the local branch closes they will bank near work.

    We have three branches within 5 miles due to population density.  Other branches are 10 to 15 miles apart because the area between them is mostly agricultural.

    Bottom line - there is no magic formula.

    Hugh

    "I am what I am, and that's all that I am." Popeye