Press Room

VSECU Brings ‘Banking on Values’ to Heart of Downtown Burlington

Burlington branch opening article

Burlington, Vt. – VSECU, a credit union for everyone who lives or works in Vermont, officially opened the doors of its new, downtown Burlington branch on Tuesday, July 10. With this move from 86 Pearl Street to 125 St. Paul Street, VSECU will improve the banking experience for members and resolve some ongoing challenges:

  • VSECU is committed to supporting the redevelopment of downtown Burlington, and believes the new location will help grow the local economy by providing the community and developing cooperative businesses with greater access to values-based financial services.
  • Centrally located by City Hall Park, the new branch will have more visibility and will be easier to get to by foot or car.
  • The branch will be larger and more comfortable for transactions and personal consultation.
  • At the heart of downtown Burlington, VSECU’s 24-hour ATM will be more accessible to members and the community.
  • Video teller service will offer personal face to face teller transactions by video, while reducing security risks and keeping everyone safe.
  • The new night depository will enable business members to make after-hours deposits.
  • The redesign of the St. Paul Street space will allow VSECU employees to work collaboratively from a newly designed co-working space.

“The entire VSECU team is excited about our new branch off City Hall Park on St. Paul Street and the opportunities it creates for our members and the Queen City,” said VSECU CEO Rob Miller. “We believe that our services and sustainable values are closely aligned with the needs of the Burlington community. Now the doors are open and a talented, enthusiastic team is ready to welcome both current and new member-owners of our financial cooperative.”

The redesigned space on the historic downtown block is leased from the Champlain Housing Trust (CHT), which purchased the building in the 1990s after a fire. The housing on the upper floors offers affordable apartments right in the heart of the City. It was originally formed as a housing co-op before transitioning to a rental property about 10 years ago.

In March of 2017, Champlain Housing Trust received funding through the VSECU member-directed giving program, We Care 2, because of the shared alignment to meet the basic need of all Vermonters to have a safe place to call home. VSECU members voted to gift $2,400 to CHT to support their “On Track” program that provides credit counseling and budget education to stabilize housing and avoid eviction.

“The Champlain Housing Trust is pleased to partner with VSECU with the opening of their new branch in our building downtown,” said Brenda Torpy, the Housing Trust’s CEO. “We share a commitment to supporting low-income Vermonters and to environmental sustainability, and we are proud to be working with VSECU as they bring their services to a central location that will also be easily accessible to the King Street neighborhood and the Old North End.”

VSECU employees, Burlington City officials, nonprofit leaders and the community will celebrate the grand opening of the new branch on September 12 (media advisory to follow).

MEDIA NOTE: Tours and photos available upon request. Please contact Rachel Feldman at rfeldman@vsecu.com to request images or arrange a tour.

About VSECU
VSECU is a member-owned cooperative and not for profit credit union for everybody who lives or works in Vermont, offering a full range of affordable financial products and services to its member-owners. VSECU is committed to improving the lives of Vermonters by empowering the possibilities for greater social, environmental, and financial prosperity. For more information about VSECU, call 802/800 371-5162 or visit www.vsecu.com.

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