UW Credit Union planning Oconomowoc branch

One of five planned for Milwaukee area in coming years

New UW Credit Union branches planned for the greater Milwaukee metro area would look similar to this branch that opened in 2020 in Franklin. (Photo courtesy of UW Credit Union)

UW Credit Union has confirmed plans for an Oconomowoc branch.

Slated to be constructed in 2023 the new branch will be located off Pabst Farms Boulevard and Interstate 94 near a Fleet Farm store.

The financial institution purchased a 1.6-acre parcel of vacant land this week just west of the store for $1.75 million, according to state records. The seller was Stonebridge Capital Unit 1, LLC, of Oconomowoc.

Once completed, the branch will be just one of five new locations the credit union is planning to open in the Milwaukee area over the next two years, said Brad McClain, executive vice president and chief financial officer for the financial institution. Those new location include branches in Bay View and Elm Grove that are slated to open later this year, as well as branches expected to open in Oak Creek and Greenfield in the spring and fall of 2023.

“For member convenience, we target areas that have high concentrations of UW System alumni, current UW Credit Union members, and high school students bound for UW System schools,” McClain said.

The Oconomowoc branch is scheduled to open in 2024.

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Cara covers nonprofits, healthcare and education for BizTimes. Cara lives in Waukesha with her husband, a teenager, a toddler, a dog named Neutron, a bird named Potter, and a lizard named Peyoye. She loves music, food, and comedy, but not necessarily in that order.

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