RIVERDALE, Utah — Long a fixture in Utah America First CU has been slowly expanding into Southern Nevada.
Rich Syme, executive vice president, electronic services and product management at the $6.3 billion CU, said America First had a presence in Mesquite, Nev., near the southern Utah-eastern Nevada border, since 2000.
"We had two branches there for a while, but not in the Las Vegas valley," Syme noted.
America First's move into Sin City began in 2008 when Community One CU became an early casualty of the Great Recession and was merged into AFCU, bringing five branches into the network.
Since then, AFCU has built three more branches in Las Vegas, bringing its total to eight locations in Glitter Gulch, plus the two in Mesquite. Mergers with other small credit unions brought it branches in Overton and Caliente, Nev.
Expansion into a new area is never easy, and Syme told Credit Union Journal the his institution faced several challenges entering the new market.
"We needed to get our brand out there. We had to let the community know who we were," he said. "We are growing slowly, which is how we thought it was going to happen. We are happy with the growth there across the board, including members, loans, deposits."
Tammy Gallegos, senior vice president, marketing, communications and service quality, said AFCU is "excited to be in an area with so much potential for growth."
"We can enhance the lives of the members in that area, which is why we expanded our presence there," Gallegos said.
Las Vegas is home to a number of strong CUs, including $729 million One Nevada CU, $643 million Silver State Schools CU, $543 million Clark County CU, and $139 million WestStar CU.
But Syme said the overall credit union market share is very low, "So there is room for everyone."
"There are some great credit unions down there, but we are not trying to take members from other credit unions by any means," he said. "The merger with Community One presented us with an opportunity. We inherited great branch managers and staff who knew the area. They have been incredible to work with."
When America First's management team determined it was time to expand, Syme said the goal from the beginning was "constant growth."
"The first couple years we did not throw a ton of money into marketing as the recession was still dragging on," he said. "In the last couple years we have upped our marketing efforts, including hiring a local public relations firm, Quillin."
Gallegos said the addition of Quillin has given AFCU "the pulse of Las Vegas," and has helped management understand the market better.
"We have put ourselves in the community, looking for opportunities to be where people are to talk about what we have to offer. We sponsor the cheer team at UNLV, as well as the Las Vegas 51s [minor league baseball team], city events, downtown functions, community events and fairs."
AFCU has ATMs available for employees of the hotels on the Strip — but it does not target tourists.
Syme said America First has produced television and radio ads for Clark County — done by people who know the local area. "We also have done billboards and print ads. There are a ton of billboards in Las Vegas so it is tough to break through there," he said.
Social Media Award
In the Financial Brand's most recent Power 100 Social Media Ranking, America First was No. 2 in the United States and No. 3 in the world for "Top Credit Unions Using Social Media."
Gallegos said social media "has got our name out," both in America First's southern Nevada expansion and as a general growth strategy.
"Our use of social media has evolved even in the last five years," she said. "Consumers are using it differently. It allows us to talk about all the ways we give back."
America First has been working with local bloggers in Las Vegas, who Gallegos said are helping the CU relate to the community, and also spread the word about the credit union.
"We incorporate local businesses into our strategy by talking about the credit union in non-traditional venues," she explained. "In Las Vegas, we work with a cupcakery, a coffee shop and other places. This takes the America First brand and allows us to talk with people outside our physical location."
Syme said since the Community One branches became part of America First CU, it has worked hard to "keep that local feel" with the people who were there, "and we want to make sure to have that going forward."
"With indirect lending we are working with local dealers and let them know we have a presence in Nevada. With that said, we are one credit union across the board," he said.
The strategy will be the same going forward, Syme added.
"We want to introduce who we are, what we can do, our products and services," he said. "When an opportunity presents itself, we will take it. We are not seeking branch locations, but we are looking for opportunities to grow. We will continue to market and to support charitable organizations in the area. We understand the importance of being part of the community and part of our members' lives."
