What is Virtual Branching?
The vision of NorthPark’s virtual branching is to provide financial services in robust deliverables that enable our community to achieve their financial goals with as little effort as possible. Simultaneously, NorthPark will minimize its operating expenses to improve its owners' capital for the greatest return.
So what’s going to happen to those empty branches? Our vision is that other not-for-profit organizations we partner with in our community, who serve many of the same individuals as our credit union, will have the opportunity to make use of our offices free of charge.
We want to help them continue to fulfill their mission of meeting the needs of our community. We strive to help those who want to help themselves but need a second chance and a lift up. We are working now on the plan to eventually transform the first of our branch buildings into a collaborative not-for-profit Community Resource Center.
We will also start a Foundation in order to financially support our not-for-profit and for-profit business partners as we work towards the same cause of closing the gap on financial wellness.