ALBUQUERQUE, N.M. — U.S. Eagle Credit Union’s branch expansion in the Albuquerque area is moving forward, with a new store set to launch on Menaul in early 2017 and another in the early stages in the Paseo corridor.
The parcel U.S. Eagle owns at 7402 Menaul NE is next to the recently opened Main Bank. “We’ll be looking to break ground at the first of the year” on the metro area’s eighth branch, said Phil Forbert, marketing manager for the credit union, which has $864 million in assets and over 80,000 members.
“It’s all about keeping pace with our membership growth,” said Forbert.
Forbert said the credit union is still fine-tuning details related to size and design of the infill project, where Rowland Nursery once was located, before construction can begin. Forbert did not have a projected budget for the project.
While not quite a done deal, U.S. Eagle also is in the early stages of negotiating the purchase of a 0.9-acre site on Palomas NE, between Barstow and Wyoming. Before the first shovels of dirt are turned, the city’s Environmental Planning Commission must weigh in after considering a number of impacts, especially traffic patterns on the nearby Countrywood housing development.
Forbert said a future branch would enhance the employment and service options in a commercial district where two other credit unions — Sandia Area Federal Credit Union and Nusenda Credit Union — have already set up shop in the heavily traveled business corridor.
According to planning documents, the applicant is looking to develop a 3,000-square-foot credit union with two drive-up service lanes.
Albuquerque is a hotbed for credit union branch expansion. Nusenda, which opened an Unser branch in Rio Rancho in January, launched a new location in June on 98th Street NW, in a shopping center north of Central Ave.