Deepwater Industries FCU Opens New Branch in ACME Store, Expands SEG Base

WOODSTOWN, N.J. – After 82 years, Deepwater Industries Federal Credit Union, following its growth strategy, opened its first new branch on Wednesday, June 14 in the ACME Market in Woodstown, N.J.

The grand opening was a big success! Members of the community, along with the Salem County Chamber of Commerce, Council for Economic Development, and Salem County Freeholders attended. The credit union provided the employees of ACME Markets with a cake in their breakroom and offered cookies and free magnetic refrigerator shopping lists to shoppers. Registration forms were also given to shoppers for their chance to win a cooler filled with picnic supplies, snacks, and an ACME gift card, which will be presented to the winner during Fourth of July weekend.

This was a risk for the credit union being that it operated so long with just one branch, and it meant change. However, its Board of Directors agreed with the decision as it was part of the credit union’s strategic plan. The credit union was aware that it would assume some financial risk in the beginning in order to make all of this happen. But, as Deepwater Industries FCU President/CEO Ida Bowen pointed out, without risk, you cannot move forward and grow. The Board of Directors understood this and accepted the plan.This process was exactly one year in the making after the credit union received a call from a representative from Financial Supermarkets Inc.’s Linda Monnin, who presented this opportunity to the credit union. Its broker, FSI, worked as the negotiator between Deepwater and the Albertson Corporation, owners of ACME Markets. FSI also was the vendor for all project management from design to construction completion, from training to marketing.

Members who live on the western part of Salem County are very excited and happy that Deepwater Industries FCU is serving them in this location. Many of those members drove 25 miles or more to come to the credit union’s Deepwater branch. Having this branch will also improve service at the Deepwater branch where the credit union is experience long lines of members on Saturdays and heavy payroll days during the month.

Deepwater Industries FCU has also partnered with ACME Markets as a SEG group, giving it potentially 130 new members from that location. The credit union opened 15 new accounts on the branch’s opening day, and not just from ACME employees. This branch also opened the door for the credit union to open another ACME Markets branch in Logan Township. That branch will be opening in August. The Pennsville Acme Markets, located down the street from Deepwater’s main branch, is also now a SEG group. Between the three stores, Deepwater Industries FCU now has potentially 360 new members coming on board soon.

 

"This could not have all happened without the teamwork of our staff,” said Bowen. “New employees were brought in months ago to begin training and cross-training so that staff could be utilized at any location. Systems were updated to accommodate the branch. Everyone pulled together to ensure a smooth transition to this new opportunity.

We now look forward and are excited to the grand opening of our Logan Township branch coming in August, 2017.”