Less than four years after opening its first branch in Bowling Green, Radcliff-based Abound Credit Union is ready to build a second location in the city.

The credit union, which started in 1950 as Fort Knox Civilian Employees Credit Union, will break ground Oct. 19 on a new branch at 2518 Penn Drive, behind the Pizza Hut on Nashville Road.

It will be in addition to the branch at 2345 Gary Farms Blvd., which opened in the fall of 2017 as Fort Knox Federal Credit Union.

“That branch has definitely been well-received,” Abound Executive Vice President Becky Ates said. “We’re pleased with the growth and the relationships we’ve made. There’s a need for another branch.”

According to a building permit on file with the city of Bowling Green, Builders by Design is building the new branch at a cost of $1.44 million.

Ates said it will be in a location that fits the credit union’s needs.

“One of the things we look for is an area that’s going to provide good traffic,” Ates said. “We also want the location to be convenient.”

The new branch will be part of a growth spurt for Abound, which opened a branch in Glasgow last year and has built new locations in Shepherdsville, Bardstown and Danville in recent years.

Abound, which rebranded from Fort Knox Federal just last year, now has 18 branches and more than $2 billion in assets.

Ates said the rebranding was intended to let people know the credit union was not limited to members from the Fort Knox military post.

“Research indicated that we weren’t reaching all the population in our market area,” Ates said. “We’re more visible now.”

Growth in Bowling Green is a priority for the thrift, which has more than 115,000 members across Kentucky.

“This new location was our focus because we felt there was a need in Bowling Green,” Ates said. “Bowling Green is such a large, growing area.”

Ates said Abound promoted from within to find a manager for the new Penn Drive location. Lisa Oliver, who has been employed at the Gary Farms branch, will be branch manager at the new location.

The Penn Drive branch will have “five or six” employees, Ates said.

– Follow business reporter Don Sergent on Twitter @BGDNbusiness or visit bgdailynews.com.