DALLAS-The Texas Credit Union League has rolled out a new Facilities Assistance Program designed to provide credit unions a forum to discreetly obtain or dispose of a facility.
The service is free to all league affiliates. The initial contacts are made online and will be kept confidential until both parties indicate interest. Mike Delker, TCUL's VP-credit union relations, said the program, which debuted Sept. 1, was a "formalization" of what had been an informal practice over the years.
"Credit unions would ask us if we knew of branches that might be for sale," he explained. "There were always credit unions selling branches or wanting to buy branches, or looking to move. As a result of these inquiries we decided to formalize an online forum where credit unions could indicate an interest in buying or selling."
The new Facilities Assistance Program consists of three steps:
Step 1: Credit unions desiring to obtain or dispose of facility register on the TCUL website and agree to a confidentiality agreement.
Step 2: When properties are offered for sale or lease, TCUL will match the offering(s) with CUs registering interest in acquiring facilities in the general vicinity of the offering. Credit unions interested in acquiring a property will be notified by TCUL that a facility has become available and provided with basic information about the property, without disclosing details.
Step 3: Potential buyers express interest to TCUL, which contacts the potential seller and the two parties enter into direct contact.
Delker said some people have referred to the Facilities Assistance Program as the "eHarmony of facilities matching. But we don't charge anything to the credit unions."
