Affinity Plus breaks into Eagan with purchase of branch office

Jim Hammerand^[1]

Staff reporter- Minneapolis / St. Paul Business Journal

This email address is being protected from spambots. You need JavaScript enabled to view it.^[2]  | Twitter^[3]  | Facebook^[4]

The second-largest credit union in the Twin Cities will get even bigger when it takes over another credit union's Eagan branch at the end of the month.

St. Paul-based Affinity Plus Federal Credit Union^[5] will gain about 4,600 members and $25 million in assets from Illinois-based Oak Trust at the close of business June 30. Affinity Plus is one of the fastest-growing credit unions in Minnesota^[6] and has 165,448 members and $1.655 billion in assets as of the end of May.

The Eagan branch is Oak Trust's only Minnesota location. Oak Trust's members are primarily Thomson Reuters employees. The credit union disclosed the transaction earlier this year^[7].

"Eagan was on our branch expansion plan, so [the deal] allowed us to open a branch ahead of schedule," Affinity Plus President and CEO Kyle Markland^[8] said.

Affinity Plus wanted a location in the city because of its economic growth, population of government agencies and workers, and its proximity to Minneapolis and St. Paul, he said.

Affinity Plus is keeping the branch's three employees and adding three more, including branch manager Natalie Okonek^[9], who most recently ran the Lakeville branch for Affinity Plus.

Markland said Affinity Plus has another 6,000 members within 10 miles of the branch, which is between the credit union's downtown St. Paul and Lakeville locations. The credit union remodeled the branch to accommodate more traffic.

Affinity Plus is looking to the west suburbs for its next location, said Markland (who was jumping into a frozen Lake Calhoun when I last caught up with him^[10]).

Jim Hammerand covers banking/finance, courts, and professional services

References

1. ^{^} Jim Hammerand (feeds.bizjournals.com)
2. ^{^} This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
3. ^{^} Twitter (twitter.com)
4. ^{^} Facebook (www.facebook.com)
5. ^{^} Affinity Plus Federal Credit Union (www.bizjournals.com)
6. ^{^} one of the fastest-growing credit unions in Minnesota (www.bizjournals.com)
7. ^{^} disclosed the transaction earlier this year (www.oaktrust.com)
8. ^{^} Kyle Markland (feeds.bizjournals.com)
9. ^{^} Natalie Okonek (feeds.bizjournals.com)
10. ^{^} jumping into a frozen Lake Calhoun when I last caught up with him (www.bizjournals.com)