Ascentra Credit Union furthers its commitment to the region and the city of Bettendorf with plans to relocate their home office from 1710 Grant Street to a new four-story building in the Town Square Development site located across from the Waterfront Convention Center parking lot.
As the credit union grows, so has the support staff needed to serve the entire membership. The building will house the heart of the credit union that supports 10 branches from Clinton to Muscatine and the 38,138 credit union members in the region and nationwide. The project is expected to bring 60 additional credit union jobs to downtown Bettendorf that will spur more business for area retailers and provide value for the city that is rarely seen in tax increment financing (TIF) projects.
“We see our project as a signature building for downtown which will supercharge further development,” says Dale Owen, Ascentra President and CEO. “We are excited to help play a lead role in the development of downtown Bettendorf and look forward to the synergy our project will provide for further development in the area. Let’s keep the momentum going!”
Plans are in place to expand on all of the services offered at the current branch such as business lending and insurance through Ascentra Insurance Services. When completed the building will be a full-service financial center that will house Ascentra Retirement & Investment Services, and provide access to trust services through First Community Trust, N.A. It will also provide office space for the Downtown Bettendorf Organization, and will even house a large community room for gatherings and presentations.
“Our collaborative partnership with the City of Bettendorf on the Town Square Development is a needed next step in the evolution of our business and the downtown,” says Larry Ridenour, Chairperson of the board of directors at Ascentra. “We’re addressing today’s needs while positioning the credit union for continued long-term responsible growth for decades to come.”
The goal of the credit union is to attract and retain top talent to serve the region. Located a stone’s throw away from the current location, the move will provide a seamless transition of services for current members while expanding the credit union offerings. To house the main office of a locally operated financial institution in a downtown is a major deal.
“At a time when the big corporate banks are leaving large empty buildings for cities nationwide to deal with, we are proud to take our best step forward in reinforcing our commitment to the communities we serve,” added Mr. Owen. “This project is a big deal that has the ability to retain and grow great paying jobs and resources for the betterment of the region.”
Ascentra’s Facebook page will show the progress of the constructions which is anticipated to be completed in early 2019.