UniWyo Federal Credit Union To Expand
UniWyo Federal Credit Union has announced the purchase of the first two floors of the former Capital West Bank building located at 2020 Grand Avenue. The building was also once home to First National Bank. The purchase was finalized on Monday, January 12th, 2015.
UniWyo President and CEO Larry Knopp says that the property became available just as the management and board were discussing the need for more space.
“UniWyo’s growth over the past four decades has required expansion and a new facility about every 10 years. We built our main branch at 1610 E. Reynolds in 2005, so this opportunity came at just the right time,” says Knopp.
According to a release from UniWyo, in the last 10 years UniWyo has grown from $121,000,000 to over $255,000,000 in assets and currently has over 50 employees.
“With the help of our local dealers, we do a tremendous number of new and used vehicle loans,” notes Vice President of Lending, Susan Bury. “Our main branch will not hold more employees. Since we anticipate continued growth, more space is a must. This will allow us to provide the service our members have grown to expect.”
Vice President of Operations Tara Springsteen says the expansion will permit increased service in other areas.
“We expect to expand our call center operations and have more member service officers to staff all three of our locations, 1610 E. Reynolds, 2020 Grand Avenue, and the UW Campus Branch,” says Springsteen.
In addition to room for the call center, the 2020 Grand location will provide a convenient location for members to access all credit union services, Springsteen explained. “We have members uniformly distributed all over town. The 2020 Grand location with its lobby, drive up, and ATM will provide improved access for our members on the south and southeast side of Laramie.”
While there is room for expansion at 1610 E. Reynolds, Knopp explained that the 2020 Grand location provides a more economical solution as well as increased access for the members. “We could double the size of our building at 1610 E. Reynolds and satisfy our needs for additional space; however, it would be more expensive than purchasing the existing location on Grand Avenue. Expanding at the current location would not provide the additional access for our members. The new location is a win for everyone.”
Aaron Courtney, Chairman of the UniWyo Board of Directors, says the expansion marks an exciting time for the credit union.
“This is an exciting milestone in UniWyo history, and we invite the community to join us for the opening of this new location later this year,” says Courtney.
The renovation of the new branch will begin immediately, with an expected completion date in the Fall of 2015.