This article was updated on April 8 to correct the name of a project.
Despite the COVID-19 coronavirus that is leading banks and credit unions all over the country to limit their on-site services, two Idaho-based financial institutions are planning new brick-and-mortar locations.
Idaho Central Credit Union (ICCU), based in Chubbuck, is planning a branch in Meridian near the intersection of S. 10 Mile Road and W. Franklin Road, at 3152 W. Peak Cloud Lane. The credit union is working with the city of Meridian through the planning and development process.
“Plans are being drawn, but we probably won’t begin construction until 2021,” said Laura Smith, director of public relations, in an email message.
In addition, Idaho First Bank opened a loan production office in Nampa, beginning April 1, the company said in a statement. The Nampa location marks the sixth location for Idaho First Bank.
Idaho First Bank is a state-chartered community bank established in October 2005 and headquartered in McCall. The Bank serves the greater southwest Idaho communities with four additional branches located in New Meadows, Ketchum, Eagle and Boise.
The Nampa location will initially focus on offering consumer and small business lending and will be led by Chris Batt, senior vice president and area market leader; Julie Roberts, vice president and relationship manager; Angela Calhoun, branch operations manager and Jamie Weldon, loan assistant, the company said.
ICCU to locate near bustling development
ICCU’s 5,700-square-foot building, which will be called the Ten Mile Branch, is being designed by Lombard Conrad Architects in Boise, a firm that has worked on a number of other ICCU locations. Entrance to the branch will be via W. Peak Cloud because business egress is limited on Ten Mile Road, according to documents filed with the city of Meridian.
The 2-acre project includes 50 parking spaces for the one-story building and is also intended to include landscaping. It is scheduled to be open from 9 a.m. to 6 p.m. Monday through Friday, and from 9 am to 3 pm on Saturday.
The intersection is in a section of southwest Meridian that is seeing a lot of development, located just north of the Ten Mile interchange on Highway 84, which opened in 2009. Other developments in the area include the Ten Mile Crossing office project by Ball Ventures Ahlquist (BVA). Most recently, the company broke ground on a five-story, 125,000-square-foot building to host government services provider Perspecta.
While BVA does not appear to be partnering with ICCU on this project, the busy development company is constructing a 125,000-square-foot, five-story office building for ICCU at the corner of Eagle and Overland roads, dubbed Eagle View Landing. ICCU held its topping-off ceremony for the building on Jan. 27.
ICCU is also busy. The company is building a branch location in downtown Star and recently opened a private client practice to help customers deal with more complex financial needs.
ICCU reached $5 billion in assets at the beginning of the year, making it the biggest state-chartered financial institution in Idaho.
The moves happen at a time when financial institutions nationwide are dealing with COVID-19 coronavirus. In response to the illness, a number of banks and credit unions are taking steps to protect their customers and employees, including converting to drive-thru only, limiting hours and closing some branches.
That includes ICCU, which asked its members to use phone and online services, including VideoChat, for as many of their banking needs as possible. While the credit union is keeping its drive-thrus and ATMs open for transactions, its lobbies are temporarily closed, with very limited lobby access available by appointment only.
The company has also created two borrower assistance programs for qualified people: a fixed-rate signature loan with no payments due for 90 days, and an offer to skip a payment on consumer loans. Assistance programs for business members are also available.