Site-Selection Tool Helps CUs Research New Branch, ATM Locations

Credit unions can easily and efficiently search for potential new branch or automated teller machine (ATM) locations using a new site-selection tool from CUNA’s Center for Research and Advice and Verdi & Company.

Pointrac saves credit unions time and money by pinpointing the best potential locations for success based on the credit union’s expansion strategy. The user can create different scenarios by changing variables such as building/land cost, operational costs such as number of employees and salaries, and the rates they plan to pay on deposits or charge on loans. By entering the street addresses they are interested in, the software responds with market characteristics for the sites and surrounding areas.

The software also compares market characteristics of a potential new site to the credit unions’ existing locations, gives key market demographics for successful branches, describes potential trade area for a particular location, and details the retail destination points in a specific area with the potential to improve performance of a new branch or ATM.

Pointrac will assist in determining locations for success based on the credit union’s strategy to target a specific market of its choosing from all the potential locations that will both minimize competitive intensity and maximize growth potential. The software also estimates how long it will take for the new branch or ATM location to pay back investment.

Annual subscription fees are based on asset size. Credit unions with limited needs have the option of purchasing small blocks of access.

For more information, contact CUNA’s Center for Research and Advice at 888-837-4589, press 1.