CU1 Breaks Ground on First Mat-Su Branch

Since forming in 1952 as the Anchorage Teachers Federal Credit Union, the financial institution now known as Credit Union 1 (CU1) has grown to a dozen branches from Ketchikan to Nome. In all that time, though, it never had a branch in the Matanuska-Susitna Borough. That changes next year.

Keeping an Eye on the Mat-Su

A groundbreaking ceremony in Wasilla over the weekend formally began construction of CU1’s thirteenth branch. The site on Railroad Avenue, next door to Bearpaw River Brewing Company, is near the junction of Parks Highway and Knik Goose Bay Road, for convenient access in downtown Wasilla and for the extensive suburbs south of Wasilla city limits. Beyond reaching into a market for new customers, the credit union is following CU1 members who’ve migrated to the Wasilla area.

“We’ve been keeping an eye on the Mat-Su Valley for a long time and had many member requests to build a branch in Wasilla over the years,” says CU1 President and CEO Mark Burgess. “When we stepped back and looked at the migration of our members to the Valley, it made sense to have a branch closer to them.” The board of directors approved the expansion last September.

“Thank you for listening to your Valley members,” said Wasilla Mayor Glenda Ledford at the ceremony. She then joined Burgess and the credit union’s board members tossing dirt with golden shovels.

“As we embrace our identity as Alaska’s only state-chartered credit union, we want to continually recognize opportunities to invest in and support families and businesses in the communities we serve. This includes the Mat-Su Valley, which has a growing population and an expanding CU1 membership base. It’s a place that has been asking us to provide them with a local option for their banking,” says CU1 Chief Retail Officer Erika Smith. “We are excited to let them know they’ve been heard and turn some dirt.”