Winnipeg Free Press - PRINT EDITION

Credit union HQ to tower over town

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STEINBACH is getting a new signature building.

The province's largest credit union -- Steinbach Credit Union (SCU) -- broke ground Thursday on a new $36-million, six-storey building that will serve as its new corporate office and local retail branch.

SCU chief executive officer Glenn Friesen said although there are other six-storey buildings in Steinbach, they don't have the same ceiling heights as SCU's new 95,000-squiare-foot building will have.

"So it will probably be the tallest building in Steinbach," he added. "It will be a new signature building (for the city)."

Like the city, SCU has enjoyed unprecedented growth in recent years, including the opening of two big branch offices in Winnipeg within the last decade. As a result, it outgrew its 36,000-square-foot building and has head-office staff working out of six smaller satellite offices around Steinbach.

Friesen said when the new building opens in early 2015, it will mark the first time in 10 years SCU will have all its Steinbach employees -- 265 and counting -- under the same roof.

The new complex will be energy-efficient, with a geothermal heating and cooling system. It will be designed to maximize natural light throughout, will have a circular stairway to the second floor and a two-storey water feature.

SCU began in 1941 with a small staff, 95 members and $1,000 in member assets. It now boasts more than 80,000 members, more than $4 billion in assets, and the equivalent of 375 full-time employees, making it the seventh-largest credit union in Canada.

 

-- Murray McNeill

Republished from the Winnipeg Free Press print edition June 28, 2013 B5

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