Steinbach Credit Union today conducted the official ground-breaking ceremony for its new branch and corporate head office in Steinbach, signaling the start of construction of its six-storey 95,000 square foot building. The sod turning was performed by SCU Building Committee members Ted Falk, Reg Penner, Alan Barkman and CEO Glenn Friesen.
Left to right: Glenn Friesen – CEO, Alan Barkman – Director and Building Committee Chair, Ted Falk – President and Reg Penner – Director
Like Steinbach itself, the Steinbach Credit Union has enjoyed unprecedented growth. As a result, SCU has outgrown its current branch location and corporate administrative staff are now scattered into six satellite office locations throughout Steinbach. The new building signals that Steinbach will remain SCU’s head office location.
“It has long been the Board’s vision to reunite our branch and corporate head office functions into one location, and to remain in the heart of Steinbach,” stated Ted Falk, SCU Board President. “We’ll soon have our 265 Steinbach-based staff together under one roof to more efficiently serve the 38,600 members who call this branch home.”
Commenting on the sheer scale of the building, Glenn Friesen, CEO stated, “Our branches are much larger than anything you’d typically see. That’s because we have a very stream-lined business model with only 3 branches to serve over 80,000 members.”
Designed to maximize natural light throughout, the new building will respect the environment, be energy efficient and feature geothermal heating and cooling. For the convenience of members, especially those with small children, there will be a drive-thru Teller in addition to a drive-thru ATM and night deposit repository. The focal point of the member hall will be a circular stairway to the second floor as well as a two-storey water feature. Construction is expected to begin this summer, cost approximately $36 million and take 18 to 22 months to complete.
Steinbach Credit Union began operations in 1941 with 95 members and under $1,000 in member assets. Today, they remain Manitoba’s largest credit union with over 80,000 members and over $4 Billion in member assets.
