University Federal Credit Union (UFCU), based in Austin, Texas, is significantly expanding its reach by opening new branches and launching a mobile banking unit to serve traditionally underbanked communities. As of June 30, UFCU boasts $4.1 billion in assets and serves 384,816 members, according to Jim DuPlessis of Credit Union Times.
UFCU’s Mobile Branch-on-Wheels: Mobile Banking on the Go
UFCU recently rolled out its mobile financial services provider to increase financial accessibility. The branch-on-wheels will travel to communities with limited banking services, offering ATM access, account setup, debit card issuance, and various loan applications.
“The UFCU Mobile Branch is a significant step toward addressing the financial barriers traditionally underserved communities face,” said UFCU President and CEO Michael Crowl. The mobile branch will also support disaster recovery, attend local festivals, and participate in university events, extending its reach. Chris Turnley, UFCU’s EVP of membership, stated, “The UFCU Mobile Branch allows us to build relationships and establish trust within these vital communities.”
Addressing the Underbanked Crisis In Texas
UFCU continues to grow its physical presence, now operating 25 branches, with recent openings in two communities in the greater Austin area and additional sites scheduled throughout the rest of this year.
The credit union initiative focuses on bridging the financial services gap throughout the state, where 24 percent of households are unbanked or underbanked.
Building a Stronger Financial Future for Texas
UFCU’s expansion through both physical branches and mobile banking demonstrates its commitment to serving underbanked communities and its growing membership. By enhancing access to essential financial services, UFCU is contributing to the long-term financial health of Texas communities.
Read more about UFCU’s commitment to serving underbanked communities in the Credit Union Times article by Jim DuPlessis.
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