Alltru Credit Union Relocates St. Louis Branch to Midtown With $1 Million Buildout

Alltru Credit Union opened a new branch at 2908 Market St. in Midtown on October 27, after closing its Downtown West location at 1407 Washington Ave. on October 22. The Wentzville-based credit union spent about $1 million building out the new site, American City Business Journals reported.

Alltru's Market Street Buildout and Ribbon Cutting

Alltru held a ribbon cutting at the new branch on November 4. Attendees included Adam Layne, treasurer of the city of St. Louis; Rasheen Aldridge, 14th Ward alderman; Missouri Rep. Lakeysha Bosley; Sal Martinez, CEO of Employment Connections; and Alltru CEO Michelle Rosner.

Laura Woods, Alltru's vice president of brand and product strategy, said the credit union moved to be in a more accessible location that will allow it to better serve its members. "We're really specific about how we do business and how we're building products and services that are accessible and affordable, which is unique in our market," Woods said. Woods said members sometimes had difficulty finding the Washington Avenue location or parking nearby, and the Midtown branch sits in a shopping plaza with its own dedicated parking lot.

The plaza is owned by Heppe Properties LLC, an entity whose registered agent is Charles Heppe. Its other tenants include Mound City Sandwich Shop, Tapers Barber & Beauty Salon and Express Valet Cleaners. The former Washington Avenue branch was in a building owned by an entity tied to Terry McDonald, the owner of auto body repair shop Dent Devil.

La Macchia Group, a Milwaukee-based bank and credit union design firm, contributed to the new location's design, and St. Louis-based Braun Construction Management Services was the general contractor. About eight employees work at the Market Street branch, and the move did not affect staffing.

Alltru's Membership and Deposit Base

Alltru Credit Union is a Community Development Financial Institution founded in 1968 by members of the International Association of Machinist Union as the District 837 Credit Union, later renamed 1st Financial Federal Credit Union before rebranding in November 2020. According to akta.pro company records, the credit union serves more than 40,000 members and offers access to over 30,000 ATMs through a shared branch network. The credit union operates five branches in the St. Louis metro area, including in Hazelwood, St. Charles and Florissant in addition to its Wentzville headquarters and the Market Street branch. It is the metro area's 11th-largest credit union, based on $361.9 million in total deposits as of the second quarter this year, according to Business Journal research. Alltru has more than 40,500 members and over $400 million in assets.

Branch Expansion Across Sector Peers

Wells Fargo has tripled its Chicago retail branches from seven to 22 in three years, adding 20 commercial bankers, Crain's Chicago Business reported on November 6. PNC Bank said on November 6 it will expand its branch buildout to more than 370 new locations by 2031, PR Newswire reported. Atlantic Union Bank opened a branch on Creedmoor Road in Raleigh on November 3, taking over a former Fifth Third location, American City Business Journals reported.

Alltru's Next Steps

Alltru's Opportunity Checking promotion for a $300 new member bonus carries an offer expiration of June 30, 2026, according to akta.pro company records.