ROCKFORD — A year ago there were no banks near the intersection of 10 Mile Road and Belmont Drive near Rockford. Soon there will be three.
The first to open was the Meijer Credit Union, located within the new Algoma Township Meijer superstore. Both Macatawa Bank and Fifth Third Bank followed the Meijer development lead, showing an interest in the growing area.
Macatawa is scheduled to open its branch this week, while the new Fifth Third location should be in business by September.
This will be Fifth Third’s second Rockford branch and Macatawa’s first. According to Jill Walcott, senior vice president of retail banking for Holland-based Macatawa Bank, the move “plays with Macatawa’s strength as a community bank. We see Rockford as a neighborhood — as a community that identifies itself very strongly as such. To provide our kind of service as a community bank, we think will appeal to (Rockford).”
The banks are the first new construction in an area slated for future development. The Macatawa Bank branch is located within a planned unit development with allowances for a hotel and restaurants.
Likewise, the land adjoining the future Fifth Third branch is for sale for commercial development.