The number of excavators and cranes in downtown Bettendorf, Iowa will soon grow as Ascentra Credit Union breaks ground on a new home office and financial center on Thursday, May 31 at 4:00 p.m. on the corner of Grant Street and 19th Street. The membership at Ascentra is also growing and the not-for-profit is looking to house more support staff for their over 38,000 credit union members and 10 branches spanning from Clinton to Muscatine.
The $10 million investment will retain 50 jobs and bring another 20 to downtown Bettendorf upon completion. The credit union anticipates adding another 40 credit union jobs in the city of Bettendorf as a result of the project over the next 10 years.
“This masterpiece is going to dictate the new standard by which all office buildings should be designed and constructed. We are extremely honored to play such a vital role in the development and construction of the new home office for Ascentra Credit Union,” stated Jim Russell, President and CEO of Russell Construction. “This state-of-the art office is going to transform downtown Bettendorf.”
The 40,205 square foot structure will stand four stories high and feature a partial glass and aluminum exterior, an open concept with collaborative workspaces and breathtaking views of the Mississippi River. The architectural aluminum to be used for the building will come from Kawneer, the commercial building arm of Arconic.
“We wanted to pay homage to our roots and original sponsor company Arconic, which was Alcoa back when our credit union was created in their basement in 1950,” said Ascentra Board Chairman Larry Ridenour.
The project will be done in accordance to an IMPACT Agreement to ensure a timely and quality construction that benefits all partners involved. Over the next year, 50 full-time construction jobs will be created by this project. The credit union will be relocating its current retail branch located at 1710 Grant Street to the new facility in mid-2019.
Along with the new retail branch, the building will offer a community room for educational seminars and gatherings on the first floor. The full-service financial center will include retail, mortgage and member business lending services, insurance through Ascentra Insurance Services and expanded offerings by housing Ascentra Retirement & Investment Services and First Community Trust, N.A to assist members with their investment and estate planning needs. The building will also provide space for the newly formed Downtown Bettendorf Organization.
“We are thankful to Mayor Gallagher, the Bettendorf City Council and city staff for all their support and hard work on behalf of our credit union,” said Ascentra President and CEO Dale Owen. “It’s very gratifying to grow our business in a community that shares our values and we look forward to doing so for decades to come.”
In the spirit of the Q2030 Regional Action Plan, which aims at creating a cool, creative, connected and prosperous region, the home office will offer social and fun spaces located throughout to retain and attract top talent.