MADISON COUNTY — Madison County Federal Credit Union will open a new location in Pendleton this year while closing one in Alexandria.

“We are a member-first business which means being where our members want to be served," CEO David Dodd, said in a press release. "There has been a need to be in Pendleton for years but a location wasn’t available until now.

"Our new Pendleton branch will provide a local credit union choice and a full range of banking services in Pendleton.”

The new branch is expected to open June 1.

Adding the Pendleton location required shifting resources from another office, according to the company.

“Our Alexandra office has experienced a dramatic decline in member visits over the last year. When the Board looked at where the resources should come from, it was a clear choice,” Dodd said. “It was a difficult decision to make to close it, but it will help us serve more individuals overall.”

The Alexandria location’s last day of business will be April 3. Alexandria members can continue to bank with the business through its extensive online banking services or by visiting its Anderson or Elwood locations, both a short drive from the current Alexandria location.