Breaking new ground: credit unions expand in Utah.

• Author: Springer, Alex
• Position: SPECIAL SECTION: BANKING & FINANCE

In the fall of 2016, Deseret First Credit Union (DFCU) and Mountain America Credit Union (MACU) each broke ground on new facilities. DFCU's new operations center will be located in West Valley and is scheduled to be completed in November 2017, and MACU's new corporate headquarters in Sandy was completed in June of this year. While there are many different factors that contributed to the timing of these two considerable construction projects, both buildings can be seen as shining examples of how the credit union industry in Utah is evolving as it grows.

DFCU President and CEO Sterling London is enthusiastic about the organization's new operations center, currently under construction in West Valley. "We're championing our members," says London, who adds that members are always his top priority. "This new operations center will give us the potential capacity to meet our needs for growth for the next 20-plus years."

DFCU serves members and employees of The Church of Jesus Christ of Latter-day Saints, and it currently has 59,000 members and operates 11 branches in Utah. London says that from start to finish, the operations center was conceived with members of the credit union in mind, lhe operations center is situated a short distance from DFCU's current headquarters and will house administrative operations, member services, lending, IT and other functions.

Upon completion, The DFCU operations center will dedicate its 60,000 square feet to streamlining credit union member services and creating a positive work environment for DFCU employees. Since the credit union's employees commute from all over the valley, London wanted a location that made the transition easier for employees. "We wanted to find something that had relatively easy freeway access, and we wanted something that was in a reputable business park--but not so affluent that it's high expense," he says.

Several factors influenced the decision to relocate to a new facility. "We've been in a leased space for the last 12 years, and this facility is simply dating itself. It hasn't functioned as admirably as we would have hoped," London says.

As the costs of construction can be exorbitant, London's first priority was to make sure the new facility was cost effective. After checking the numbers, London and his team were able to secure a deal that was revenue neutral.

"The new facility is going give us the space that we need to grow. It's not a Taj Mahal by any means, but it will be a practical...