IBM Southeast credit union opens in Delray Beach

By Palm Beach Business.com

Delray Mayor Woodie McDuffie, far left, IBM Southeast Chairman Don Lee, president and CEO Lary McCants, Delray Chamber ambassadors Eileen Bushman and Marilyn DePalma and chamber member services coordinator Suzy Sims take part in Wednesday's grand opening.

DELRAY BEACH — With a faux snip of a pair of over-sized scissors, IBM Southeast Employees Federal Credit Union officially became part of Delray’s business community.

The Boca Raton-based credit union has opened an office on Congress Avenue just north of Lake Ida Road that includes a branch, drive-through, call center and mortgage and lending offices.  An IBM Southeast spokesperson estimated the number of employees housed there at between 50 and 100.

On hand for the grand opening Wednesday evening: Representatives of the Delray Chamber of Commerce, including Executive Vice President Beth Johnston and membership services coordinator Suzy Sims, and various city officials, including Mayor Woodie McDuffie and city commissioners Gary Eliopoulos and Mackenson Bernard.

McDuffie thanked the credit union for setting up shop in Delray, saying it was a show of faith in the city. He noted that Delray is a community of small businesses.

The Delray office is IBM Southeast’s fifth in Palm Beach County. It also has branches in Fort Lauderdale, Port St. Lucie and Tampa, as well as offices in Georgia and Alabama. It has about 70,000 members, and $718 million in assets. Bauer Financial of Coral Gables recently gave the credit union four stars out of five for its financial strength.

IBM employees formed the credit union in 1969. It now offers banking services to those affiliated with more than 600 companies. IBM Southeast declined to say how big a chunk of its members have affiliations with IBM.

Mayor Woodie McDuffy shakes hands with Lary McCants, president and CEO of IMB Southeast. At the far left is Michael Townsend, a member of the credit union's board of directors, and second from right, Don Lee, chairman of the credit union.