Numerica Credit Union has been growing not only in terms of membership and assets, but also through branch renovations and additions. 

Within the last year, Numerica has constructed one new branch, remodeled a second, and completed renovations for the opening of a third. 

Media relations liaison Elizabeth Giles says Numerica remodeled a space at 4911 S. Regal for a new branch that’s opened in the Regal Plaza Shopping Center. The credit union also completed a three-phase remodel of its Spokane Valley branch at 722 N. Sullivan Road, just south of Interstate 90. 

Numerica declined to disclose costs of each project, but public records put the cost of the Sullivan renovations at about $350,000 and the Regal renovations at about $166,000. The Sullivan project covered 5,200 square feet of space, and the Regal project accounted for 2,600 square feet. 

Numerica’s branch at 4909 E. Sprague location is newly constructed as of 2014, having hosted its grand opening last March. The 3,700-square-foot branch cost about $2.2 million to build, and replaces the credit union’s former 301 N. Havana branch.

Giles says Numerica also has projects planned in Idaho, including renovations to its Coeur d’Alene branch at 465 W. Bosanko and the remodeling of space for a new Post Falls branch at 775 N. Highway 41 in the Highland Crossing shopping center. 

Cost of the renovations to the credit union’s Coeur d’Alene branch haven’t been released. The Post Falls branch will be a 3,000-square-foot space, and remodeling work there is expected to cost $195,000, according to city records. Both projects are set to begin early this month. 

“We’re excited to be a part of the Post Falls community, and anticipate being in that space sometime in early 2016,” says Giles. 

Numerica has a total of 18 branches overall, with membership open to anyone who lives or works in Washington state or the Idaho Panhandle. The addition of the Post Falls branch will bring the total number of branches up to 19. 

Giles says Numerica’s membership has increased by a third over the last five years. “Numerica had 85,000 members back in 2010 when it hit the $1 billion mark in assets. Now in 2015 we have hit 113,000 members and surpassed $1.5 billion in assets,” she says. 

She says the rapid growth in membership and record assets are a milestone for the credit union, adding, “It means we’ll be able to invest more money into technology and continue to explore new ways of enhancing the well-being of our members.”

Numerica’s net income was $12.1 million for the first three quarters of the year, up from last year’s $11.6 million for the same period. 

Numerica’s total loans were $80.5 million as of the end of the latest quarter, with a loan growth rate of 8.4 percent this year. That’s strong growth, but down a bit from last year’s loan growth rate of 10 percent. The majority of Numerica’s loan growth has been first mortgage loans, Giles says. 

 “As we have grown our membership, we have seen pockets in town that could use our support and that has been much of the driving force for our expansion and growth,” she says.

 She says that in remodeling branches and adding new locations, Numerica hopes to focus on improving communication and conversations with its members.

Giles says that Numerica President and CEO Carla Altepeter also has been a catalyst for the credit union’s recent successes. 

“(Altepeter) was brought on at Numerica four years ago and since that time has worked toward creating a culture based on fulfilling dreams, enhancing lives, and building communities,” she says. 

Altepeter says the improvements in design at each branch are built around member wellness.

“The intent is to reduce stress, and make managing finances an easier process with more information shared between staff and our members,” she says.

Giles says improvements at the Sullivan road branch included creating a more open floor plan, and adding a game station for kids and a tech bar, as well as a beverage and snack station. 

She says newly redesigned branches featuring the added amenities for members have seen a 150 percent increase in new members per month versus traditional models. 

“People are also taking advantage of technology, with a 21 percent usage of features like the enhanced ATMs and mobile deposits over the 9 percent usage at traditional branches,” says Giles. 

She says Numerica is working to ensure its members have access to helpful technology services. For example, the addition of a tech bar at branch locations enables members to access their accounts through provided iPads.

“They can log in, deposit checks or transfer funds, and staff are available to highlight these functions and educate members who may not be comfortable using technology,” says Giles.  She says allowing for members to complete basic account functions through devices at the branch locations helps cultivate deeper conversations with staff about lending and financial planning. 

As part of its efforts to improve communication and incorporate technology, Numerica also has been training its staff in what it calls the “universal” training model. In contrast to the more limited responsibilities of traditional tellers, all Numerica staff members are trained to handle multiple roles. 

“As members become more comfortable with online and electronic banking for daily financial interactions, Numerica sees the importance of having the right staffing model in place that is prepared to handle more complex transactions, new accounts, and lending,” Giles says. 

Other Numerica branches in the Spokane area are located at 502 W. Riverside downtown, 2202 E. 29th on the South Hill, 1210 S. Hayford Road in Airway Heights, 405 E. Farwell Road, 1916 W. Francis, 303 E. Lyons, and inside a Rosauers supermarket at 10618 E. Sprague, in Spokane Valley.  Numerica also has a Hayden, Idaho branch at 8370 N. Cornerstone Drive. 

The credit union also operates three branches in the Wenatchee area, three branches in the Tri-Cities area, and one branch in Hayden.