Article and photo gallery spotlight retail branches that are designed to deepen member relationships
Thursday, March 28, 2024 – A new article from the Financial Brand shows how forward-thinking financial institutions are transforming their retail locations for the future. Featuring two of Adrenaline’s credit union clients, Retail Banks Branch Out shows bank and credit union brands putting consultation at the center of the branch function. These institutions approach the branch “with a different purpose: to deepen customer relationships, offer personalized consulting, and communicate their brand to differentiate themselves from scores of competitors.”
The article highlights how changing conditions and evolving expectations are driving the desire for transformation. “Customers are likely to welcome the presence of these newly designed branches,” according to the Financial Brand. “In a recent survey of 44,000 consumers from around the world, Accenture turned up a surprise: Two of every three respondents said they wanted a bank branch near them.” Even more, data spotlighted by Believe in Banking shows that reinvesting in key branch locations improves customer acquisition and reduces attrition.
Virginia Credit Union
With a consultation-first approach, Virginia Credit Union “reconfigured branches to focus staff on creating more meaningful connections,” according to the Financial Brand. The branch uses an open floorplan to great effect. “Dotting the interior are couches and chairs… with an airy, wide-open feel. High ceilings with exposed and painted HVAC pipes and colorful ATMs in blues lend an optimistic feel.” Going deeper into the strategy inside the branch, Virginia Credit Union’s case study shows how reconfigured branches reorient staff toward a new purpose that focuses on more meaningful connections – with consultations that are life-event based and appointment driven.
The branch network strategy was equally important for market presence. “While revitalizing and renovating existing locations, the credit union aimed to enter new markets, so the design had to be flexible,” according to the Financial Brand. “Virginia Credit Union typically selects sites with high visibility that are easily accessible and often near public transportation.” As outlined in the case study, the networkwide goal was to relieve overburdened spaces, maximize new locations in new markets, and revitalize existing branches to build on growth.
AMOCO Federal Credit Union
AMOCO Federal Credit Union’s location in Clear Lake Texas establishes a platform for future growth. “The goal for this prototype branch was to achieve an inviting and modern feel without being overly trendy,” according to the Financial Brand. The interior is focused on fostering consultation. “The floorplan features an open concept, with teller pods instead of teller lines and there is functional, multipurpose office space. Like the open plan, the teller pods erase physical barriers and promote trust.” AMOCO’s case study details the new North Star experience and flexible functionality.
The distinguished design features timeless installations like a coffered ceiling and recessed oak paneling, mixed with vibrant, modern interior elements. “To keep the design centered on continuity, there are classic touches including wainscoting, framed photographs, darker colors, plenty of leather chairs, and even a globe,” according to the Financial Brand. Further, the prototype builds efficiency into the experience. “Core elements such as video banking, teller pods, ITMs and multipurpose spaces will be incorporated into future branch designs.”
To learn more about design and construction and network transformation strategies for your bank or credit union, or to speak with one of Adrenaline’s brand experience experts, contact us today.
Adrenaline is an end-to-end brand experience company serving the financial industry. We move brands and businesses ahead by delivering on every aspect of their experience across digital and physical channels, from strategy through implementation. We create brands people love and engage audiences with story-led design and insights-driven marketing; and we design and build transformative brand experiences across branch networks, leading the construction of physical spaces that drive business advantage and make the brand experience real.
