Board Decision to Close the Frankford Avenue Branch
After much discussion the board of directors has made the difficult decision to close the Frankford Avenue branch located in the Mayfair section of Philadelphia, effective immediately and with the ultimate plan to sell the building.
The primary reasons are (1) growing concerns over the safety of both our employees who work there and the member-owners that visit this branch; (2) the rising costs of necessary repairs and maintenance as compared to the declining value of the property; and (3) the continued increase in technology utilization, such as mobile banking, remote deposit capture and electronic consumer loan document signing, that allows member-owners the ability to bank from anywhere there’s an internet connection, versus the need to physically come into a retail branch location.
Accordingly, we’ll now have two full-service branches, one in Center City Philadelphia and the other in Bucks County, PA, as well as a third location in Montgomery County with restricted access for the employees of Cobham.
As a participant in the CO-OP shared branching network, Viriva members can visit any participating credit union branch and make transactions to their Viriva account. Learn More or Locate a Shared Branch Here
Regarding any mailed items that you were previously sending to the Mayfair location these should now be sent to the following address: Viriva Community Credit Union, 157 York Road, Warminster, PA 18974.
For members that previously predominantly utilized the Mayfair branch and have concerns about your ability to continue banking with us we’d appreciate the opportunity to work with you, individually, to identify reasonable alternatives. Complete the request form below or email Management@viriva.com and we will reach out to review your specific concerns and respond with a set of reasonable options worth your consideration.
Additionally, in recognition of the need to improve infrastructure and provide additional remote access capabilities, the board has earmarked funds to renovate the lobby of the Spruce Street branch, as well as move forward with the implementation of mobile wallets. The latter will include both Apple Pay and Google Pay, thereby allowing members the ability to purchase goods at retail locations simply by waving their phone over the checkout device. More information on both topics will be provided as implementation progresses.