Grow with bricks & mortar

At a time when many credit unions are expanding their presence through an Internet Web site or alternative delivery vehicles, there

Image is one consideration. A credit union should project strength and solidity. Building a new facility or giving a facelift to an existing structure conveys a strong statement to the community.

A brick-and-mortar expansion can also promote more growth. "If there's enough of a concentration of members in an area to place a branch, then once you place a branch there, that attracts more members," explains Mack Ivey, president of $227 million, 60,000-member Georgia Federal Credit Union headquartered in Atlanta.