Kohler Credit Union is building its first branch outside of Sheboygan County in Saukville.
The 5,600 square-foot branch will be located at 840 E. Green Bay Road. The new office will be designed and built by La Macchia Group LLC of Milwaukee and is expected to be open for business in early 2005.
"We’re very excited about entering the Saukville market," said Mike Schmidt, business development and community relations director for Kohler Credit Union. "Saukville is an area that really doesn’t have a credit union presence."
The credit union was founded in 1938 by Kohler Co. employees and today has two branches in Sheboygan and branches in Kohler, Plymouth and Howards Grove.
Kohler Credit Union is a member-owned financial cooperative. Membership is open to anyone who lives or works in Sheboygan, Ozaukee, Calument, Fond du Lac, Manitowoc or Washington counties. The credit union would have to change its charter to allow members from other counties.
The credit union has total assets of $173 million and about 100 employees.
"We’ve had a number of pretty strong years," Schmidt said. "There’s been some pretty good deposit and loan growth over the last couple of years. It’s put us in a position to grow."
Schmidt said the credit union will look for other locations to open
new branches.
"I’m sure we’ll continue to look at future opportunities, where they will be I don’t know," he said. "I don’t think we’ll go much farther south. Depending on how (the Saukville branch) goes will determine our future direction."
The credit union looks for highly visible, accessible locations to build branches, Schmidt said. The company also looks for areas that are not served by credit unions.
"(The Saukville location) is a very high-traffic area, and it’s a very growing area as well," said. "It’s right off I-43. Convenience is a huge factor for people with their finances."
The Saukville branch will have about 10 employees, once its customer base is fully established.
"Our focus is what is in the members’ best interest," Schmidt said. "We’re a nonprofit institution, but we want to operate profitably."
Schmidt said the Saukville branch will probably be open on Sundays, just as the credit union’s two Sheboygan branches are.
Kohler Credit Union
Web page: www.kohlercu.com
Number of branches: Five
Total assets: $173 million
Number of employees: 100
Headquarters: Kohler
