American insurance service company Commonwealth Credit Union is set to break ground on a new location in Richmond, Kentucky, US.

Located at 108 Meridian Way, the branch is expected to be completed next year. It has been designed primarily to better deliver the financial needs of the insurer's customers in the area.

Commonwealth Credit Union president and CEO Karen Harbin said: “Adding a branch in Richmond has been a project in the planning stages for a while.

“The challenges of 2020 caused our plans to be placed on hold, but now, we are ready to forge ahead and show Richmond and Madison County what it means to better lives through our passion to serve!”

The credit union acquired the land for its new branch in November 2019.

Construction plans were originally delayed due to the Covid-19 pandemic and were further hampered by supply chain issues.

Commonwealth Credit Union Board of Directors chair Randy Fawns said: “Commonwealth Credit Union has continued to grow and thrive, expanding our footprint so we can more effectively serve the central Kentucky region.

“We promise our members an extraordinary experience when they bank with us, and soon, that experience will be more convenient for our members in Richmond and Madison County.”

This new location is the 18th branch of the union in central Kentucky and the Louisville metropolitan area.