MED5 Credit Union unveils new office
Cutting-edge new building is a showcase for the new trend of “co-branding.”
RAPID CITY, SD (August 9, 2019) — MED5 Federal Credit Union recently celebrated the grand opening of their new office building, located at 4956 5 th Street in Rapid City, South Dakota. The new office design follows a trend that is gaining popularity among credit unions and other financial institutions – that of an open space, with non-traditional teller “pods” rather than lines, and an inviting coffee shop as a gathering center.
According to Pam Brown-Graff, President of MED5 FCU, the credit union chose HTG Architects, a long-standing and trusted CUAD CAP Member, as the designer. “I have always been impressed with Jeff Pflipsen from HTG and his dedication to credit unions. The minute MED5 decided to build a new branch, I knew I had to reach out to Jeff and chat, it took a very short time to know that HTG was the perfect partner. Over the past 25 years I’ve seen many buildings; I knew what I liked and didn’t like. Jeff and I spent a full day visiting multiple credit unions and banks in the Minneapolis area, and Jeff listened to my likes and dislikes. The result was even better than our original vision. The building is definitely a collaboration of MED5 and HTG, and I just love showing off our new digs,” she stated.
Construction started in April 2018 and MED5 occupied the space in May 2019. The entire site is approximately 75,000 square feet, with the centerpiece being a bold two-story building. Inside, the main level has 8,400 square feet, with another 6,500 on the upper level. The main level consists of retail space for transactions, safe deposit boxes and lending offices, along with two concierge stations that allow the member service representatives to better serve their members. Outside is ample parking, along with two drive thru lanes. For the plan design on this project, the architect was Ben Zeltiger from HTG. “Working with Ben was not only enjoyable, it was a privilege. He treated our branch project like it was his own, and the results prove that. I would tell any credit union looking to expand to call me, and I will tell them why they need Ben to lead their next build,” Pam stated.
“Nationally, with transaction counts on a slow decline, a trend of the future for credit unions is to get non-members into their buildings to increase brand awareness,” says Jeff Pflipsen, President/Partner of HTG. With that in mind, the design includes a coffee shop with a genius name: “The Bean Counter,” which Jeff says Pam proposed during the design process.
“The strength of this facility is the seating and gathering space for the credit union and coffee shop to blend together, because it’s all incorporated into one space. This is called co-branding, which is the future,” Jeff further explained. “Moving forward, the credit union will have 5-10 non-members sitting in their lobby throughout the day – even when the credit union is closed. This creates great visibility for the credit union.”
Moving on to the upper level of the new building, you will find the corporate offices for MED5, a board room, and a break room. In addition, there is a rooftop patio for employees to enjoy outdoor breaks and special events. There is a second 900 square foot additional co-branding space on the upper level, which is occupied by a law firm, creating even more non-member traffic in MED5’s building.
For the interior décor, material and color were selected to match the credit union’s modern culture and image. The exterior materials are split-faced block, bold blue and silver metal panels, and lots of windows to keep the inside of the facility bright.
As for the new venture, “The Bean Counter,” it is a registered 501 C (3) not-for-profit coffee shop, with all proceeds donated to charities. “We have a board of directors for The Bean Counter, and they determine where the profits will be donated based on needs,” Pam expounded. “The coffee shop even has its own drive thru, and is already acquiring quite a following. Our members are loving the new, modern concept and are thrilled with The Bean Counter and its charitable concept. Who wouldn’t like to have an amazing cup of coffee while making a deposit or getting a loan? Inside, the coffee shop has a conference room that groups may use free of charge. We hope that providing a nice meeting space will not only boost coffee sales, but will continue to help MED5 grow new members, and the plan is working! We will be making our first official charitable donation in August. We partnered with HTG Architects and they did an amazing job. I invite you all to come and see it in person. Be bold and think outside the box, that’s the new MED5,” she concluded.
About MED5 Federal Credit Union
MED5 Federal Credit Union is a community based credit union located in Rapid City, South
Dakota. Established in 1966, the credit union has grown to more than $77.5M in assets and has
over 5,700 members.
About HTG Architects
HTG is a CUAD CAP Member and architecture firm specializing in financial institution projects. They are known throughout the industry for recreational projects, retail projects, commercial projects, office buildings and industrial buildings. There are two types of projects that have become their primary niche: financial institutions and recreational buildings. HTG has the ability to meld each client’s vision with their expertise to design and create a facility that works best for them. Contact Jeff Pflipsen for more information.
