News From Terre Haute, Indiana

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June 12, 2014

Eastside credit union branch to close

Board cites low traffic for move

TERRE HAUTE — The Vigo County Federal Credit Union’s first and only branch, located near the eastside Wal-Mart, will be closing July 31, bank officials said Thursday.

The membership-owned institution’s board of directors voted to close the location at least temporarily because of a lack of growth on the city’s east side, where the branch is located, said Dale Burkitt, president.

The decision will cost four employees at the branch their jobs, he said, adding it is hoped the move will be temporary. If growth improves in the area, the branch could reopen, he said.

“This area hasn’t grown as much” as hoped when the branch opened five years ago, Burkitt told the Tribune-Star. “We’re hoping everything will grow in this area.”

Meijer is planning to open a new grocery store across Indiana 46/U.S. 40 from the closing branch. That could signal more growth in the area, Burkitt said. “We hope that we can reopen.”

The credit union is not planning to sell its branch building, Burkitt said. The credit union’s ATM machine will remain at the location and will be available for use, he said.

The move will not affect the credit union’s main location at 128 S. Eighth St., Burkitt said. That location employs 12 people, he said.

The credit union’s members will not see a change in any services apart from the loss of the branch location, Burkitt said.

The Vigo County Federal Credit Union, established in 1935, opened the eastside branch in 2009. The 2,200-square-foot facility was opened to accommodate the credit union’s growing membership in the eastern part of the county, the business announced at the time.

According to its website, the Vigo County FCU currently has more than 8,000 members Members pool their funds and become part-owners of the credit union, which is governed by a volunteer board of directors, according to the website.

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