In that spirit, we are excited to announce plans to open a CU1 branch in Skagway this spring!
In January 2024, CU1 received a letter from the Skagway Borough Assembly asking us to consider expanding into their charming, historic town to improve the financial resources available to residents. With Wells Fargo as the sole banking option in the area, the Assembly sought an Alaska-centric financial institution that understands and can serve the unique challenges and opportunities of rural Southeast life.
“With two other branches opening this year, Skagway wasn’t on our radar for expansion, but the Assembly’s request got our attention,” said CU1’s President and CEO Mark Burgess. “When we visited the community, we met incredible people who exemplify the Alaskan spirit—innovators, small business owners, and families building their future. It became clear that CU1 could make a real difference here.”
“Expanding to Skagway represents more than just a new branch; it’s an opportunity to help sustain the town’s long-term economic vitality and foster a stronger financial foundation for its residents and businesses,” said CU1’s COO Erika Smith.
Located at the corner of 3rd Ave and Broadway, the Skagway branch will mark CU1’s 15th location—all exclusively in Alaska—and is scheduled to open in April 2025.
“We wholeheartedly welcome Credit Union 1 to our community. We appreciate that Credit Union 1 responded to the Municipality of Skagway’s request and is able to expand financial options in our town,” Municipal leaders shared. “Offering these services in Skagway contributes to the economic prosperity of our community and fosters a sense of financial security among our residents.”
This branch will join two new CU1 locations that are also opening this year, Kotzebue and Wasilla, further solidifying the credit union’s commitment to serving every corner of the state.
“Credit Union 1 is built for moments like this,” said Burgess. “Our purpose is to reinvest in Alaskan communities and create opportunities where others might see obstacles. We’re honored to answer Skagway’s call and look forward to making a positive impact.”