A Tennessee Valley Federal Credit Union branch will open in the Red Bank Food City. TVFCU HOURS
Financial services consultants will be available Monday through Friday from 10 a.m. to 7 p.m. and Saturday from 10 a.m. to 4 p.m. to open new accounts and loans. Each branch will feature TVFCU LIVE stations which will be open Monday through Saturday from 7 a.m. to 7 p.m.
Tennessee Valley Federal Credit Union is opening new full-service branches in two Chattanooga area Food City stores in what could be the start of a bigger tie-in between the businesses.
"Our companies have a lot in common," said Steve Smith, Food City's chief executive. "At the end of the day, we're focused on our customers."
Early next year, TVFCU will open branches in the Food City stores in Red Bank at 3901 Dayton Blvd., and in East Hamilton County at 1667 Ooltewah-Ringgold Road.
Todd Fortner, TVFCU's chief executive, said at the Red Bank store that Food City is "a good fit."
"Maybe we can do some further business down the road," he said. "We're thrilled to finally be in Red Bank."
Smith also said the Red Bank store is to undergo a more than $1 million renovation before year's end as part of Food City's area-wide makeover of the former Bi-Lo units it purchased a little more than a year ago.
The Red Bank unit is one of five Food City stores that will receive revamps by the end of 2016. The Abingdon, Va.-based grocer recently finished upgrading six locations in the area.
Fortner said the credit union branches will locate at the front of the Food City stores, offer extended hours, provide staff for services such as new accounts and loans, and give customers interactive teller technology.
Through TVFCU LIVE, members can connect live with a personal teller to make basic over-the-counter transactions.
Fortner said TVFCU checked some Knoxville stores where Food City has in-store financial institutions. He said the credit union's 123,000 members "will appreciate the convenience" of the branches for which TVFCU is leasing space.
Smith said Food City has about 20 bank or credit union branches in its array of stores. He said a company that specializes in helping bring such branches to grocery stores, FSI, brought the two parties together.
Red Bank Mayor John Roberts said he's glad to see another financial institution come to the city.
"It's good news," he said.
Tommy Taylor, the Red Bank Food City store manager, said the TVFCU branch will help draw more people to the location and heighten convenience for its customers.
Smith also said he's hopeful a Food City fuel center will be coming to Red Bank. The proposed site is located across Dayton Boulevard from the store.
Food City plans to spend up to $50 million over three years on the 29 area Bi-Lo stores it acquired last year.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.