MURFREESBORO, Tenn. -
The design at its newest branch is not the only thing that's new at the CU-so is its name. Ascend FCU's was chartered in 1951 as AEDC FCU to serve the employees at Arnold Engineering Development Center at Arnold Air Force Base. Research confirmed existing members had little understanding of what the acronym stood for, and that the name would have little impact as they moved into larger markets. "The research simply validated what we already knew," said Steven Passarello, chairman of Ascend FCU's board of directors.
So they knew they needed a full makeover: a new name, a new brand, and brand-infused branches to move the $1-billion CU into the future while setting it apart from competing financial institutions. "We are no longer a one-room operation at Arnold Air Force Base serving one core group," said Caren Gabriel, CEO at Ascend FCU. "We have not been sold, and we have not merged with another financial institution. To propel us into the future and set us apart from other financial institutions, we have changed our name to better reflect who we are, the companies we serve, and where we're going."
With the groundbreaking of the new branch in Murfreesboro, known as "Victory Station," the CU began the implementation of a facilities plan that also renovated the existing branches to reflect a consistent image.
The "Ascend" experience begins as soon as a member enters the new facility through a rotunda that mimics the look of an air traffic control tower. Ascend's brand and aeronautical heritage permeate the facility through the creative use of aircraft materials such as parachute fabric and metal rivets. An employee at the "Greeter Station" welcomes and directs individuals to the appropriate service area. Teller lines and individual employee offices have been eliminated, as well as the concept that sales and service are mutually exclusive. Ascend has adopted an off-site retail platform to provide more open and interactive experiences for members. Traditional offices have been replaced with six member-service rooms used alternatively as members come in to open new accounts. Another addition is "Dialogue Towers, Strategic Retail Centers," a biometric safe deposit box area.
"'Ascend' means to move upward, and that's what our credit union is doing," he said. "Another reason we chose 'Ascend' is the importance the board places on our roots at the base."
In the five months since its official opening, Victory station has realized household growth of 8.28%. Annualized, they project new household growth of 19.88% this calendar year. The annualized profit of households within a three-mile radius of Victory Station has increased 4.5%. Annualized deposit growth has increased 10.3% and annualized loan growth has increased 13.9%. In addition, the number of services cross-sold into these households has increased at an annualized rate of 21.5%.
FOR MORE INFORMATION
www.ascendfcu.org
