The new O Bee branch is expected to open in January 2012, company officials said in a news release.
"This new branch is reflective of the strong financial position of O Bee Credit Union as well as our confidence in the Olympia-Lacey-Tumwater area's ability to weather the current economic downturn," Chief Executive James Collins said in a statement.
O Bee also has branches in Tumwater, Tenino and Lacey.
First Citizens Bank announced in June that it would close five South Sound bank branches, affecting locations in west Olympia, Hawks Prairie, downtown Tacoma, Kent and the Pioneer branch in Gig Harbor.
The branches are expected to close Sept. 9.
