Space will allow growing credit union to better serve members
LARAMIE, WY (January 13, 2015) – UniWyo Federal Credit Union, a fixture in financial services in Laramie for over 60 years, has announced the purchase of the first two floors of the former 1st National Bank building located at 2020 Grand Avenue. The purchase was finalized on Monday, January 12, 2015.
UniWyo President and CEO Larry Knopp explained that the property became available just as the management and board were discussing the need for more space. “UniWyo’s growth over the past four decades has required expansion and a new facility about every 10 years. We built our main branch at 1610 E. Reynolds in 2005, so this opportunity came at just the right time.” In the last 10 years UniWyo has grown from $121,000,000 to over $255,000,000 in assets and currently has over 50 employees.
“With the help of our local dealers, we do a tremendous number of new and used vehicle loans,” noted Vice President of Lending, Susan Bury. “Our main branch will not hold more employees. Since we anticipate continued growth, more space is a must. This will allow us to provide the service our members have grown to expect.”
The expansion will permit increased service in other areas, according to Vice President of Operations, Tara Springsteen. “We expect to expand our call center operations and have more member service officers to staff all three of our locations, 1610 E. Reynolds, 2020 Grand Avenue, and the UW Campus Branch.” In addition to room for the call center, the 2020 Grand location will provide a convenient location for members to access all credit union services, Springsteen explained. “We have members uniformly distributed all over town. The 2020 Grand location with its lobby, drive up, and ATM will provide improved access for our members on the south and southeast side of Laramie.”
While there is room for expansion at 1610 E. Reynolds, Knopp explained that the 2020 Grand location provides a more economical solution as well as increased access for the members. “We could double the size of our building at 1610 E. Reynolds and satisfy our needs for additional space; however, it would be more expensive than purchasing the existing location on Grand Avenue. Expanding at the current location would not provide the additional access for our members. The new location is a win for everyone.”
The renovation of the new branch will begin immediately, with an expected completion date in the Fall of 2015. “This extensive remodel will provide the Laramie community with an experience unlike that of any other financial institution in town,” explained Aaron Courtney, Chairman of the UniWyo Board of Directors. He also states, “This is an exciting milestone in UniWyo history, and we invite the community to join us for the opening of this new location later this year.”
UniWyo was originally chartered as a credit union in December 1953, when nine University of Wyoming employees opened their accounts with $5 each. The current membership totals over 20,000. UniWyo Federal Credit Union is a member of the National Credit Union Administration (NCUA) with accounts federally insured to at least $250,000.