Marine Credit Union, headquartered in La Crosse, Wisconsin, announced that it will close its Davenport branch – its only Quad Cities location – but said it remains committed to serving the community.
In a news release issued Thursday, March 21, the credit union said the Davenport branch at 709 E. 46th St. will close effective Friday, May 17.
“It’s with a mix of emotions and careful consideration that we share with you that we’ve made the difficult decision to close our branch in Davenport,” President/CEO Darrick Weeks said in the release. “We are making changes from a position of financial strength, as part of our strategy to deliver on our mission and enrich our communities, while also providing robust digital banking and other services to our members.”
Local members of Marine were notified of the decision beginning last week through email, mail and in-branch communications.
“Like many in the financial services industry, we have seen an increase in mobile and online banking activity and a decline in in-person member transactions at the Davenport branch,” Mr. Weeks said. “As the mobile and online banking adoption grows, MCU continues to adapt to meet our members’ needs. We are optimizing our resources to provide an enhanced member experience dedicated to serving all our members.”
How to access accounts
According to the release, Marine will continue to serve the Davenport community through these methods:
- All affected employees have been offered roles within the organization.
- Local lenders are still working in the area.
- Digital banking is open 24/7. Customers can deposit checks, chat with service staff, transfer money, pay bills, enroll in direct deposit and change their address through the Marine Mobile App.
- Marine will not charge members an ATM fee and members can still withdraw cash from their accounts at any ATM.
Marine entered the Quad Cities market after completing a merger in early 2018 with Bent River Community Credit Union in Davenport. Marine acquired about $16 million in deposits and $12 million in loans through the deal.
“At Marine Credit Union we are on a mission to advance the lives of people from a place of financial need to a life of ownership and giving back in our communities. And, our mission is more than just words,” the release said. “Every decision we make comes from a place of having the largest impact, partnering with our communities to solve complex issues, and creating lasting financial empowerment in our communities.”
Marine will continue to operate 17 branch locations, serving more than 75,000 members in Wisconsin, Minnesota, Iowa and Illinois. With roots that trace back to 1931, the full-service, member-owned financial cooperative employs more than 400 people and has more than $1 billion in assets.
