CorePlus Federal Credit Union to open two new “Loan Zone” offices

CorePlus Federal Credit Union has announced the planned opening of two new “Loan Zone” offices by the end of the first quarter. The first of these new offices to open will be located on South Main Street in Putnam and the second location will be in the Great Plains Shopping Plaza (former Ames location)on Salem Turnpike in Norwich. 


CorePlus “Loan Zones” are offices dedicated to serving member borrowing needs in a fast, efficient, and no hassle environment. Each of the new Loan Zone offices will provide a full range of consumer lending and mortgage products including credit cards, auto loans, personal loans, lifestyle loans, student loans, home equity loans and mortgages in a teller line free professional office. Loan amounts anticipated for processing at these new facilities are expected to range from a low of $250 advancing up to $250,000 and more.


According to CorePlus Federal Credit Union President and CEO Warren P. Scholl the new “Loan Zone” offices are part of an overall campaign to highlight consumer borrowing opportunities locally at CorePlus.  “In recent years, lending has frequently been overshadowed by deposit taking and investment functions.  These new “Loan Zone” offices will help us and help members re-emphasize the “Credit” in Credit Unions. After all, providing low cost loan products is why Credit Unions were founded in the first place” Scholl said. The “Loan Zones” will be the local leader in the growing national trend of micro-lending; typically meaning smaller, flexible, consumer based loans.


Each of these new offices is currently in process of being furnished and retro-fitted to meet the Credit Union’s computer and telephone technology requirements.  In addition, recruitment is under way to allow for staffing of each of these offices as soon as practical.  The target date for opening the Putnam location is March 1, 2012 with the Norwich location set to open by March 15th.


CorePlus Chief Operations Officer Ray Currier and Branch Development Coordinator Paul Pescatello will be spearheading the details leading up to the opening of each of these new CorePlus ventures. Currier noted that the CorePlus “Loan Zone” concept will make the entire borrowing process easier and less intimidating for members, and Pescatello expressed his enthusiasm for the potential of providing more area consumers with low rate credit card and automobile lending alternatives.


CorePlus Federal Credit Union was established in 1936 and is just completing a yearlong series of 75thAnniversary celebrations.  The Credit Union controls more than $192 million in assets and serves more than 21,000 members throughout New London and Windham Counties with branches in Norwich, Groton, East Lyme, Waterford, Plainfield, and inside the William W. Backus Hospital in Norwich. 


For more information call 860-886-0576 or visit our website at www.coreplus.org.