Tue, Jun 9, 2015
There are no similar branch designs in El Paso or its surrounding communities, and GECU has no immediate plans to open additional tea house locations. However, Long believes the future of credit union branches will resemble her partnership with Kinley’s, which encourages customer bases to overlap and brings business to both entities. Plus, less square footage means lower operating expenses, which allows the credit union to increase its number of locations and offer more convenient options for members who haven’t always had a branch on their block.
This might be the future, but change takes time to catch on. In the meantime, the credit union remains cognizant of its end goal.
“It's a long-term strategy,” Long says. “I see it as providing service to students who need it and need an alternative to the payday lender, to the check casher. It’s not a money-maker, certainly not on day one. It’s more of a sustainability strategy.”