Red River Credit Union Expands

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Local credit union still growing

New headquarters to cost $5.5 million

By: Kristie Avery - Texarkana Gazette - Published: 02/08/2010

This is an artist’s rendering of the new Red River Federal Credit Union. The building will house administrative staff from the Summerhill Road location. The $5.5 million project is scheduled to be complete by the year’s end. Submitted illustration Getting its start more than 70 years ago with a handful of people and dollars on the Red River Army Depot base, Red River Federal Credit Union is growing again.

“We have outgrown this facility here on Summerhill Road,” said John Stephens, the credit union’s senior vice president. “Every corner in here has been filled.”

Stephens said the financial institution will build “corporate headquarters” on 5 acres at University Avenue and Gibson Lane. The building will house administrative departments and staff, such as human resources, training, marketing and student services.

“The zoning was approved by the Texas-side City Council last week, and we’re finalizing the artist’s plans and drawings,” Stephens said. “That all should be complete in the next couple of weeks.”

The two-story building will have a total of more than 18,000 square feet. A separate full-service branch office and drive-through lanes will share the site. The project is expected to cost $5.5 million to $6 million.

Dirt work should begin in March, with a completion date set for the end of the year.

“We knew we needed more room but weren’t sure what would be best for us and the community. We decided on the northwest part of town would be best. This will take us into the future and the plans for future growth,” Stephens said. “We started over a year ago with a comprehensive study. We’ve put a lot of thought into this.”

Stephens said a 17,000-square-foot building eventually will be built between the first two buildings.

He said an Atlanta, Texas, location is scheduled to open in March on U.S. Highway 59 next to the Orr Auto Ranch. Stephens said the spot eases access for customers.

Member-owned Red River Federal Credit Union has no plans to vacate the Summerhill Road location.

“We will retrofit this facility to be more customer friendly,” Stephens said. “We need to expand our business and real estate lending departments. Summerhill Road is still a very vibrant and viable area.”

The Summerhill Road location was built in 1978. Stephens said it has been expanded several times.

Along with the business and real estate lending services, the credit union offers investment services and 22 ATM locations for MasterCard and Visa. The credit union also offers telephone and online banking.

“The only reason, just about, for members to come in is for loan paperwork purposes,” Stephens said with a smile. “We’re totally electronic now.”

With more than $450 million in assets, Red River Federal has 20 branches, including five in area school districts and a location for the Hispanic community. Branch locations stretch from Hope, Ark., to Clarksville, Texas.

The credit union has more than 60,000 members in the Four States Area. Stephens said there are members in all 50 states and in other countries.