News

Main Office Gets Approval for Expansion

After an extensive feasibility study, our member-owners are going to benefit from a newly approved building extension in Sierra Vista. The existing lot that extended to the south of the main office will be fully developed by adding a two-story, 14,000 square foot building and additional parking. Both buildings will be joined together by a 2nd story bridge allowing drive through traffic to exit under the bridge between the two buildings.

The addition will serve as new loan, teller and member services operations as well as administrative offices on the second floor. The existing building will continue to house back office associates as well as mortgage and indirect auto lending. The new and old buildings have been designed as if they are one building, but the new building is specifically designed to take the heavier lobby traffic to help extend the life of the existing building – now 27 years old.

The decision to expand now came after several years of study on our growth and membership patterns as well as the significant growth the credit union has acquired in recent years. Nearly one third of our growth has occurred during the recession years. Credit unions in general have grown in popularity mostly due to stock market uncertainty and unfavorable bank press. “In 1982, when the board decided to purchase this lot that we’re on today, the credit union was a meager $18 million in total assets. It was quite a leap of faith then to build this wonderful building that we have benefitted from for the last 27 years,” reflects Brian Barkdull, CEO of American Southwest Credit Union. “It’s amazing that we’ve been able to stay here for so long with our tremendous growth.”

Timing was also critical. The Board of Directors and management felt that ASCU could greatly benefit from the economic downturn that caused lower building costs. “If we attempted to do this project 4 years ago, the building costs would have been significantly higher,” states ASCU Chairman Jay Raschke. “For the future success of our member-owners, this new addition is a tribute to their support and dedication over the last 57 years. They deserve the best.”

The project is scheduled for 7 months. A grand opening and ribbon-cutting event will be slated as soon as the project is completed. We look forward to the grand opening when we can service our members through this new addition.

P.S. For a summary of our 57-year history, click here.

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