Project Ushers in the Credit Union’s Long Awaited Entry into Louisville
ATLANTA, GA (September 10, 2014) -- Commonwealth Credit Union, headquartered in Frankfort, KY, has awarded the design, construction and branding of its new St. Matthews retail branch to Atlanta-based LEVEL5. The new branch will be conveniently located at 3704 Frankfort Avenue in Louisville in the rapidly growing St. Matthews market. The branch was a former bank building, which LEVEL5 purchased and is remodeling to bring the Credit Union’s new branded look and feel to Louisville.
David Young, Executive Vice President stated, “Our entrance into this vibrant area of Louisville is a huge win for our members. For years, our membership has desired a strong retail presence in Louisville, so they can better utilize our full range of services. This is a bold move for our Credit Union, Board and Membership and we are excited about growing our footprint in Louisville.”
The Credit Union partnered with LEVEL5 to complete the transaction, and LEVEL5 is also completing the remodel, so the branch can open in September. The nuances of the business deal are confidential, but included simultaneous negotiations with the owner of the property (who wasn’t the bank) as well as the bank, who had a long-term lease on the facility. This deal enables Commonwealth to enter the market extremely fast and the negotiations produced great value for the credit union.
Karen Harbin, CEO of Commonwealth Credit Union added, “Our partner, LEVEL5, truly shined in structuring a complex deal and getting us into this crucial market, quickly. We celebrated our grand opening for our new prototypical branch in Lexington this spring and now we are delighted to be moving into Louisville. We are committed to our existing members and potential new members in the largest city in the state, which is long overdue. At Commonwealth, we definitely see our members differently.”
About Commonwealth Credit Union:
Commonwealth Credit Union is a cooperative, not-for-profit financial institution owned and operated by its members exclusively to meet their financial needs. Currently, over 84,000 people from across Kentucky are Commonwealth Credit Union members. To learn more about Commonwealth Credit Union, visit www.ccuky.org.
About LEVEL5
Headquartered in Atlanta, with other offices strategically located to best serve its clients, LEVEL5 is a consulting and facilities development firm that works exclusively with community-based financial institutions across the United States. For a decade LEVEL5 has assisted hundreds of financial institutions in the development and implementation of growth strategies through its unique services that include consulting, real estate, integrated design, construction management and branding. For more information visit the company’s website at www.level5.com.