ErieFCU.org

Erie FCU - Glenwood School Update

Jan 15, 2013 | Posted in Inactive

Mary Beth Wilcher, CEO








"Glenwood School Update"


The Erie Federal Credit Union recently acquired the former Glenwood Elementary School site to accommodate the future growth and expansion of the credit union. Adding a full-service retail branch at this location will allow us to conveniently serve our members in the surrounding area. The new Corporate Facility planned for this location will house our operations and administrative staff that are currently located at the 1959 E. 36th Street Corporate Facility.

Our goal in purchasing this site is to provide our membership with a full-service retail branch that is centrally located on a major thoroughfare and in the heart of the city of Erie. It's important to note that this location fits well within the profile of our existing membership base as was indicated by two recent independent Market Analysis Studies.

The former Glenwood Elementary School site will provide us with enough land and building space to accommodate the credit union's predicted growth over the next 20 plus years. The 1.8 acres of property will allow us to build a campus type facility that will keep our growing back office workforce in one central location. The current Corporate Facility does not provide us with adequate space to expand our back office operations or the ability to add an adjacent branch facility at a level necessary to service our frontline retail branches and our membership.

We have always reinvested our earnings for the continued well-being of our membership. Our approach has always been to create value through a combination of service, convenience and competitive rates, and we will continue to serve our membership in this manner moving forward.

Our investment in this site is in keeping with the growth strategies that have proven to be successful for this Credit Union. The acquisition of the former Glenwood Elementary School will set the stage for our credit union's sustainable growth over the next several decades.

As the credit union moves forward on this project, you will be able to view our progress on the Erie FCU website. We look forward to being able to present a new Corporate Office and Branch facility for our members to access within the next 12-18 months.

Sincerely,

Mary Beth Wilcher, CEO