Duncan Islands Savings making $15 million move

Island Savings has announced plans to move its Duncan branch out of its Canada Avenue location to a new facility at Duncan Mall.

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Duncan's flagship financial institution is setting sail for a bigger pond elsewhere in the Warm Land.

In a release issued today, Island Savings announced it is moving its Duncan customer service branch from its downtown headquarters to a new location in the Duncan Mall.

"The ninth-largest credit union in the province, announced to over 400 employees today that they are updating their flagship Downtown Duncan branch on Evans Street and relocating it to the Duncan Mall on Trunk Road," the release states.

"The new 9,300-square-foot space is part of Island Savings’ 3-year, $15 million upgrade and expansion plan. The revitalized branch will offer a more contemporary environment, with additional private offices for members to conduct their banking, multipurpose community meeting spaces and Island Savings’ first drive-thru ATM."

"We have enjoyed membership growth in the past few years, against an industry trend of flat or declining growth.  We are responding to this growth and – simply put – it’s time to grow our branch network," said Rod Dewar, Island Savings’ President and CEO.

“We celebrated our 60th anniversary in 2011 and have enjoyed a series of profitable years. We want to share our successes with our members.”

The Duncan location is the first of Island Savings’ branches to undergo major innovations, which are scheduled to occur over the next few years.

“It makes sense to start our revitalization in Duncan,” said Randy Bertsch, Chief Operating Officer. “This is where it all began for us; our administrative office is located here and we have developed deep partnerships with the community.”

The plan is to begin development of the new Duncan branch in April 2012 and be fully operational by the fall. Island Savings will continue to serve its members during this time without interruption.

Dewar also added that the organization is in discussions with other property owners for further expansion and other announcements can be expected in the coming months.