United Federal Credit Union Sees Strong Response to Corporate Headquarters Expansion Request for Proposals

ST. JOSEPH, Mich., Feb. 21, 2012 /PRNewswire/ -- United Federal Credit Union (UFCU) today announced they are reviewing more than 50 proposals received to build a new headquarters for the institution.  The bids, which were received from within the Michiana-area, were in response to an October 2011 Request for Proposals (RFP) UFCU issued to accommodate its growing workforce and further its expectation of adding 500 jobs by 2020.

"The overwhelming response that we have received from municipalities, corporations and individuals provided us many ideas, including some which we had not previously considered," said Gary Easterling, President/CEO of UFCU. "As a result, we now plan to take additional time to more fully explore a larger set of options than we initially planned.  We are currently working out of multiple corporate locations, some of which are leased on a short-term basis. This project will enable the company to consolidate operations and comfortably accommodate current staff, as well as the new hires we plan to add by 2020."

The move will have no impact on the institution's branch network or Member service.  UFCU plans to continue branch operations in all its current markets and locations, including the main branch in St. Joseph, Mich.

UFCU has experienced tremendous growth in recent years. The institution, which now manages assets in excess of $1.4 billion, has seen its asset size double over the last five years and its Member base grow approximately five percent in the past year.  Contributing to this growth is UFCU's recent announcement of the purchase of Griffith Savings Bank headquartered in Griffith, Indiana. The purchase marks the first time a federally chartered credit union has purchased the assets of a state-chartered, FDIC-insured mutual savings bank.

Easterling added, "We have received proposals from within the Michiana-area and the high quality of the submissions necessitates a careful evaluation of each. The selection process represents both an exciting and challenging process for us.  We are treating each submission with the same level of evaluation and working diligently to find the solution that is the best fit for UFCU. We recognize the importance of this decision to our Members and our employees.  Hence, we will take the necessary time to complete a full evaluation.  We expect to keep all interested parties appraised of any significant progress in this evaluation."

For continued updates on the planned headquarters expansion please go to:
https://www.unitedfcu.com/HQ_Announcement_Oct_2011

About United Federal Credit Union
United Federal Credit Union has served its Members since 1949 by helping them to build a sound financial future.  UFCU consists of more than 108,000 Member/owners worldwide, and manages assets in excess of $1.4 billion.  Its corporate offices and main branch are located in St. Joseph, Michigan, with additional branches in Arkansas, Indiana, Michigan, North Carolina, Nevada and Ohio.  For more information about United Federal Credit Union, please call toll-free at (888) 982-1400, or visit the credit union's web site at www.unitedfcu.com.

SOURCE United Federal Credit Union