American Partners Federal Credit Union in Reidsville, N.C., has expanded its branch network, opening up its first Virginia location in a former Fidelity Bank building.
The branch was already vacant when the $67 million-asset credit union bought it last summer and no customer accounts were included in the transaction. Terms of the deal were not disclosed.
Rocky Mount, Va., is about 60 miles north of the credit union’s North Carolina headquarters.
“For our members that work outside the county but live in or near Rocky Mount, this will give them the flexibility to bank wherever they go” APFCU CEO Brian Bone said in a press release Friday.
The expansion did not include any changes to the credit union’s chartering or field of membership. Consumers who live, work or worship in select portions of northern North Carolina and Southern Virginia are eligible to join, along with workers employed by dozens of select employer groups in the region.
American Partners earned more than $405,000 last year, a 44% over its 2019 showing, thanks to reduced expenses and higher loan revenues.
