Wednesday, November 29, 2017

Here We Grow Again…..



Here’s some breaking news……your Credit Union is expanding again.  We’ve received National Credit Union Administration approval to expand our field of membership to include the Duluth area.  As you know, our current field of membership includes Lake and Cook counties.  It now continues into Duluth and the surrounding communities up to St. Louis County Rd. 16.  The lakes and rural areas from Highway 53 to Two Harbors are included as well.  Now we truly have the North Shore covered. 

Here’s the best part – as part of this expanded membership area, we are going to open a branch office in the new Endi building in Duluth, located on 21st Ave. East and London Road.  We anticipate being open and ready to serve our members in June of 2018.

What? Why?

No, we are not trying to become the biggest credit union in the area.  Rather this is a natural extension of our membership area considering we already have a substantial number of members that live in Duluth.  Plus, this will be an added convenience for all our members as we all travel to Duluth pretty frequently and this location will be very convenient no matter where you are headed. 

Additionally, our young members end up in Duluth in high numbers, whether it be to attend college or pursue career opportunities.  We want our young people to be North Shore Federal members for life and this is the best way we can ensure that this happens.

How much of a financial risk is this to our Credit Union?  Pretty much zilch.  Our Two Harbors branch is already profitable and our new Duluth branch will be an even easier proposition.  It will have a smaller footprint, emphasizing our popular electronic products which are really low cost.   

Most importantly, it won’t be long before people in Duluth recognize what our existing members already know: being a member of North Shore Federal is a great relationship and an organization that we can all be proud of.

Mark  

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