A year ago, Silver State Credit Union set up an ATM at the University of Nevada, Reno.
The ATM was the firm's first small step northward from its Las Vegas roots.
Now, it's ready to move onto step two a branch office in northwest Reno.
"Reno's always been part of the long-term strategic plan for us," says Gilbert Niimi, executive vice president for Silver State.
Silver State Credit Union, a statewide organization with a 61,000-strong membership that is chiefly education-based, is marketed to school faculty, staff and students, and up to now has found those members in southern Nevada.
It serves them with branches in the greater Las Vegas metropolitan area, plus ATMs in Las Vegas,Henderson, and Pahrump.
Only about 400 of the credit union's members are northern Nevadans.
But the institution hopes to raise that figure significantly over the next few years enough to support three to four branches in Washoe County.
The first full branch, located in the McQueen Crossing shopping center at Robb Drive and Mae Anne Avenue, is slated for a May opening.
The 1500-square-foot storefront will employ a staff of seven and will be overseen by Silvia Randall, a branch manager (and previous Reno resident) transferring from a Las Vegas Silver State Credit Union branch.
The northwest branch location was selected, says Niimi, because it is in a booming bedroom community.With five schools in the area, he adds, plus all the new homes, including Somersett, the Northwest fits the credit union's market niche perfectly.
Silver State Credit Union is strong on first mortgage programs, home equity loans, and auto loans, says Niimi.Adds Silver State's marketing manager, Barbara King: "Opening in Reno was a natural transition.We've grown tremendously in southern Nevada."The credit union's assets total upwards of $701.9 million, she says,with $560.6 million in loans.
Though Niimi is targeting grade K-12 teachers as the credit union's
first Reno market, he is simultaneously working with the university to establish a full-size branch on campus.
That branch, he says, could be affiliated with one of the university's colleges and could be staffed by students.
A variety of plans for the university are under discussion.
The credit union is also studying locations in Sparks.
Silver State was established in 1950, as the Clark County Teachers Federal Credit Union, and switched to a state charter in 1999.
And what can another credit union offer to an area that already houses several? "We are larger," says Niimi."But we're not just the big boys from the South.We want to be an integral part of the Reno-Sparks community." Looking down the road to five years from now,Niimi says he'd hope to have added about a half dozen branches to the firm's locations, bringing it to about 25 branches statewide.
