Oregon State Credit Union Breaks Ground on New Headquarters

Oregon State Credit Union has broken ground for a new LEED-certified operations center building to include a third Corvallis branch, administrative offices, back office operations and a community room. It will be located at the corner of Research Way and Technology Loop in southwest Corvallis.

Just completing its 60th year, Oregon State Credit Union will better accommodate its current staff, a 30-year growth plan and its continued investment in the local community with this new construction. Plans for the new 62,000 square foot, three-story building will also include a 2,900 square foot branch and a 4,500 square foot community room.

The project will support approximately 260 jobs during the 14-month construction and the new branch will create the demand for six new permanent positions. The project is slated for a tentative June, 2016 completion.

While approximately 100 staff members will occupy the new building in 2016, the 30-year design will accommodate more than double that number at capacity. The Corvallis-based headquarters enables a centralized staff to offer a more efficient and personalized level of member service. The operations center investment is projected to be $18 million.

The Credit Union’s Ninth Street location will continue to operate as the main branch and will provide future expansion potential for its real estate, business and investment services departments. Over time, the credit union will sell a back office building in Corvallis.

President and Chief Executive Officer Richard Hein said, “Our 2008 purchase of the property anticipated our projected and now realized growth, and reflected our continuing long-term commitment to our Corvallis-based roots. It was followed soon after by one of the worst recessions since the great depression.

“Since then, Oregon State Credit Union leadership, in collaboration with our board of directors, continued to research how and when this project would best benefit the membership, and improve the effectiveness of our team,” Hein continued. “Together, we see this as a great opportunity to advance our legacy of civic and economic strength, trust and financial security.”

Oregon State Credit Union has commissioned Seattle-based Momentum, a plan-design-build firm specializing in working with credit unions, to lead this project. Jim Haack, President of Momentum said, “This landmark facility will source the vast majority of construction materials locally and leverage local construction talent to get it built, a key project objective. We are proud to be a part of Oregon State Credit Union’s long-term community vision.”

Questions about this story? Contact James Pearson: 206.340.4790, jpearson@nwcua.org.

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