July 2, 2020 at 12:16 p.m.
Ripco Credit Union breaks ground on expansion
Ripco Credit Union breaks ground on expansion
The remodeled and expanded building will be "the future of Ripco Credit union," according to board chairman Dr. Steven Ferch.
"We are expanding to meet the needs of our members for the future," Ferch said. "If you don't grow, you die, it's as simple as that."
The three-phase project will add just under 4,000 square feet when it is completed in the summer of 2021.
"When it (the expansion) is all done, it will be 20,000 square feet of new and remodeled (area)," said Ripco President/CEO Liza Edinger.
"So there is going to be some member and employee inconvenience, but we will work around that."
The one constant customers can expect throughout the course of the project is that the drive-thru area will remain untouched. The inside services will require some temporary customer adjustment, however. "We have the new temporary entrance that will more than likely remain that way for the remainder of the year," Edinger said.
"I asked when would it be done, and she said 'one year,' and I said, 'OK,'" Ferch said with a resigned laugh.
Edinger said the expansion is desperately needed.
"We've run out of room, we really have," she said."We've completely run out of office space for employees. It will enable everyone to have the space they need plus we have planned ahead for future growth."
"This should carry us to our 100th anniversary, 12 years, that's our goal, and beyond," Edinger added.
She said the COVID-19 pandemic has not diminished the need for the expansion, nor are the member/owners interested in seeing Ripco follow the trend other financial institutions have followed in eliminating square footage in many branches.
"I don't know if I 100 percent agree with that, because of the amount of members we've seen come through in the last two weeks since we've opened," Edinger said. "I think the pandemic has created a desire to see people more than normal and it has brought to light that people need human interaction. I don't see the human interaction changing at this credit union, it never has. It is such an important part of why people come here."
"They are part-owners, the members of the credit union are all part- owners," Ferch agreed. "And the members have always liked to come in and utilize our lobby and socialize with us. And we've always appreciated that."
"(The financial institutions that are downsizing are) actually telling their customers 'this is how the new normal is going to be, and you just got to get used to it,'" Edinger said. "And if we just listen to our member/owners, that's just not happening here. It hasn't happened even this year. People still want to come in. And the last thing, as a credit union, is push people to electronic services if they prefer to come in."
It was noted that the project has been in the works for over a year, and the announcement was originally been planned for March.
"When the pandemic situation arose and negatively impacted our communities, Ripco's Board of Directors decided to delay the announcement until the project start date could be re-evaluated," Edinger said earlier this year.
At the April board meeting, the Board of Directors unanimously approved moving forward with the project.
Jamie Taylor may be reached at [email protected].
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