Branching boldly: What credit unions can learn from Bank of America’s expansion strategy

When Bank of America announced plans to open 150+ new branches across 60 markets by 2027, it turned heads in an industry where many are still scaling back. The move might seem counterintuitive. Why double down on physical locations in a digital-first world?

But their strategy reveals a blueprint that’s highly instructive for credit unions and community banks. Branches still matter when they’re in the right place, delivering the right experience, and backed by the right intelligence. At LEVEL5, we’ve helped hundreds of financial institutions shape growth strategies grounded in these principles. So what can credit union leaders take away from Bank of America’s playbook?

1. Follow the Data, Not the Crowd

Don’t expand for expansion’s sake. Each new location should be pinpointed through layers of data: population shifts, income profiles, and customer overlap across services. Don’t stop at the zip code—analyze specific intersections. That kind of precision is what turns site selection into strategy.

2. Design for Engagement, Not Just Transactions

Bank of America’s branches are open, advisory-driven spaces where conversations take center stage. This reflects a broader shift we see across the industry. The branch isn’t just a utility; it’s an experience. Layouts should guide members through a journey designed to build trust and deepen relationships.