Access Credit Union plans branch closures

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Five Access Credit Union branches will close in 2025, according to a Jan. 15 announcement.

The credit union, which has gone through a string of mergers in the last number of years, announced what they call consolidations.

The Birds Hill branch will consolidate with a location on Main Street in Winnipeg, Gretna will consolidate with Altona, Lowe Farm will consolidate with Morris and Miami will consolidate with Morden as of May 22.

SUPPLIED 

Access Credit Union President and CEO Larry Davey said members are using branch locations and ATMs less than ever before.
SUPPLIED Access Credit Union President and CEO Larry Davey said members are using branch locations and ATMs less than ever before.

The Lundar branch will consolidate with Eriksdale on Sept. 17.

Locations in Southeast Manitoba including Sprague, Vita, Dominion City, Emerson, and Grunthal are not on the list.

Grunthal is the closest location to Steinbach, and CEO and president of Access Credit Union Larry Davey said it’s not in danger of consolidation at this time.

“We do review all locations ongoing but at this time we have no intentions of consolidating the Grunthal location into another one,” he said.

Davey said as member behaviour changes, they continue to assess all the locations.

“So, with that, we have to analyze each location, but Grunthal has been a booming branch for us, and it covers an area that really assists our credit union,” he said.

The assessment is based on foot traffic, and member behaviour which Davey said has been changing rapidly over recent years.

“As people gravitate more and more to electronic, they’re being more and more comfortable with not only utilization but also the convenience that’s offered,” he said.

With 47 branches remaining, the largest credit union in Manitoba that boasts $13.5 billion in assets and serves over 205,000 members isn’t planning widespread closures.

“We still need locations where members can go in and have these great conversations about their finances going forward and what they’re looking to do financially long-term,” he said. “So, we will always need locations.”

Less traffic in branches isn’t the only change they’re seeing.

“Transactions at the ATM are actually falling faster than in the branch,” Davey said.

The ability to deposit by phone, the fact more government cheques arrive electronically, the popularity of e-transfer and the fact that COVID made less people inclined to use cash have all contributed, he said.

Davey said they’re also able to track where members are doing their business.

“So, if our (Lowe Farm) member uses a debit card in Morris, and they’re in Morris a lot, we understand that there’s not a huge convenience change for them by consolidating Lowe Farm into Morris,” he said.

Most of the changes do not add much travelling time to those looking to access a local branch.

The distance between Bird’s Hill and the Main Street branch in Winnipeg for example is only nine minutes by car.

The biggest inconvenience would be to Miami members who now have to travel 18 minutes to get to Morden.

No decision has been made as to what to do with the buildings at this time.

Access Credit Union says that they will continue to support initiatives, offer programming, and community support to the communities that will see their branches close.

“Whether there’s a branch there or not, we still believe in investing in the communities of the members that are supporting the credit union,” Davey said.

Staff will also be retained and will have opportunities in the branch network or in corporate support roles.

Members will receive detailed letters about the closures within 120 days of the anticipated branch move.

“Access employees will collaborate closely with individuals and businesses over the coming months to ensure a smooth transition, reaffirming our commitment to providing exceptional service,” they stated in a press release.

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