TelComm Credit Union adds Republic branch

TelComm Credit Union will open its fifth branch in mid-December at 161 U.S. Highway 60 West in Republic.

TelComm President Don Ackerman said the new branch was purchased from Mid-Missouri Bank for an undisclosed price. The building previously was home to Town & Country Bank.

TelComm is the first credit union to open a Republic location. TelComm has three locations in Springfield and one in Nixa, with assets of nearly $70 million and 14,000 members. Of those, Ackerman said, between 1,000 and 1,500 are in Republic and its outlying areas.

“It’s a very aggressively growing community, and it looks like a good opportunity,” he said.

Ackerman said Republic wasn’t necessarily a target market, but as it turns out, the new location fits well with expansion efforts.

“We have a long-term real estate expansion plan,” Ackerman said. “We just happened to become aware that this was on the market, so it really just fell into place.”

Additional expansion plans are undetermined, Ackerman said, noting that they will depend on the credit union’s available resources for acquiring or building new branches.

Ackerman said the full-service Republic branch would start with about four employees. A grand opening will likely be held in late January.

This story originally appeared in SBJ’s Nov. 22 free e-news Daily Update. Click here to register.