Arkansas Federal Credit Union is paying $12 million for a building in west Little Rock that will become the organization's new corporate home.
Arkansas Federal announced Tuesday that over the next 18-24 months it will move its primary operations from Jacksonville to the 97,000-square-foot building at 5800 Ranch Drive that housed the nonprofit Family Life.
Family Life will continue operating at the site until August.
"After a three-year search for space to accommodate our growing operations and membership, we felt the building's size, quality, location and value were the perfect fit for us," Rodney Showmar, president and chief executive officer of Arkansas Federal, said in a news release. "We are excited to be able to have all of our operations staff under one roof in this new facility."
The new headquarters will accommodate 200 employees and has plenty of room for expansion, the company said, noting that it also will build a full-service branch on site to serve the area. Remodeling is scheduled to be completed in 2021.
The credit union serves 108,000 members at 15 branches in Arkansas. It has $1.2 billion in assets.
-- Andrew Moreau
Print Headline: Arkansas Federal Credit Union union moving to $12M west Little Rock facility