DUNCAN, Okla. (10/30/14)--Combine a burgeoning population, remote access and no credit union presence, and you have a situation ripe for a new credit union branch.
That's what Halliburton Employees' FCU, Duncan, Okla., did when it opened its newest branch in western Oklahoma Monday.
The Elk City branch is the only credit union in Beckham County--population 22,000--said Jackie Haines, marketing and business development associate at the $144 million-asset credit union.
The nearest credit union is nearly an hour's drive south, and Halliburton Employees' own main branch is 2 1/2 hours away, Haines told News Now.
Elk City, which is home to a major natural gas reserve as well as historic Route 66, has been named one of the fastest-growing cities in the United States. With 7.7% population growth, it has outpaced Oklahoma's population growth rate of 2.6% between 2010 and 2013.
The idea of being a credit union pioneer in Beckham County is appealing to Haines. "Nobody knows what a credit union is," she said. "I want them to know credit unions truly care about people."
She also wants them to learn about the lower loan rates that credit unions can offer. The credit union is currently running an auto-loan refinancing program that has a rate 1.25% lower than local banks.
And in its first day, the credit union had two online applications for refis and opened 15 unique accounts in a community that previously didn't know what a credit union was, Haines said.