SELCO Community Credit Union announced the purchase of a building that will serve as the organization’s new headquarters. The building, constructed in 2003 as the former home of PacificSource Health Plans, is located at 110 International Way in the Gateway area of north Springfield. SELCO will be moving from its current downtown Eugene headquarters on 1050 High Street, which has served as SELCO’s home since 1990. SELCO’s adjacent branch at 299 E 11th Avenue will remain open after the move.
With 61,000 square feet and room for more than 400 employees, SELCO’s new headquarters will better accommodate the credit union’s recent and anticipated growth. This facility will allow SELCO to consolidate staff from multiple locations while protecting the health and well-being of its employees through social distancing best practices. In addition, the building offers close proximity to Eugene and Springfield, as well as convenient access to outlying areas, including the I-5 corridor. SELCO plans to have as many as 250 employees work in its new headquarters when the organization completes its move, which is expected to take 10 to 12 months.
“For several years, we had sought a long-term facilities solution, as we had outgrown our existing office space and moved several teams into leased space,” said Bob Newcomb, SELCO’s president and CEO. “We considered various options in this tight commercial real estate market, including building, leasing and buying. PacificSource’s relocation earlier this year presented us with an excellent opportunity. We’re thrilled that this facility will bring more of our team together, as well as help us meet the evolving needs of our diverse and growing workforce today and well into the future.”
The purchase price of the new building will be in part offset by the eventual sale of SELCO’s current home on High Street. Designed in pursuit of LEED Gold Standards with significant natural light throughout, the new location will also reduce SELCO’s long-term energy costs.
With 14 physical branches across the state, a 24/7 virtual branch, 140,000-plus members and more than $2 billion in assets, SELCO is one of the largest and longstanding Oregon-based credit unions.
“It is important for us to have a home that will not only meet our operational needs but also allow us to be good stewards of our members’ assets,” Newcomb said. “As a financial cooperative, we are committed to making wise investments for the benefit of our members. The purchase of this building is an example of that commitment and will better advance our strong corporate culture and business philosophy for years to come.”
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