WELLINGTON — Meridian Trust Federal Credit Union, the second-largest credit union in Wyoming, plans to open a branch in Wellington, its first in Colorado.
Meridian Trust, based in Cheyenne, expects to open the branch at the northwest corner of Cleveland Avenue and Wellington Boulevard by early 2019.
The credit union purchased approximately 10 acres of vacant land for $1.1 million in October 2017 from Denayhn LLC, according to Larimer County public records.
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Kim Withers, president and CEO of Meridian Trust, said the credit union will keep two lots of the property, one for the bank building and one for green space, and then sell seven lots, ranging in size from a quarter acre to almost one acre, to developers.
The land will be sold to companies that will bring good jobs to Wellington, one of the town’s top priorities.
Meridian chose to expand to Wellington to serve rural agricultural customers and small businesses, which are strong suits for Meridian, Withers said.
She also pointed out that brick-and-mortar branches are still needed.
“When everything is going OK, people bank using mobile, online devices. But when trouble arises, they want to talk to someone face to face to solve the problem.”
The branch bank will have two stories totaling 8,000 square feet, with three drive-thru tellers.
Meridian Trust had assets of $373.4 million and more than 27,000 members as of December 2017. It is second in size in Wyoming to Blue Federal Credit Union, also based in Cheyenne.This will be Meridian Trust’s ninth location. It has seven in Wyoming and one in Nebraska.
Withers said AgProfessionals LLC in Greeley is helping with the site plan, and Casseday Creative Designs LLC in Greeley is designing the branch bank.
A general contractor has yet to be hired.