CHARLOTTE, N.C.–The $32-million Blue Flame Credit Union has broken ground on a $2-million headquarters project.
The new two-story, approximately 7,000-square-foot space is under construction at 2000 Continental Blvd. in Charlotte, according to the Charlotte Business Journal.
Blue Flame purchased the site in late 2019 for $475,000, according to Mecklenburg County real estate records cited by the Business Journal.
The new headquarters will house branch operations on the first floor and back-office staff on the second floor, CEO Charles Lowe told the Charlotte Business Journal. It is scheduled to be completed by year-end.
"We need to be more open to our community," Lowe told the publication. "Within a three- to four-mile radius, (there's) not too many credit unions that serve that area. We felt like it (had) good demographics for us to move into."
Blue Flame is investing now in additional safety features, such as protective barriers and better air filters, to accommodate the ongoing pandemic. Building access will be able to be controlled remotely, if needed, the Business Journal reported.
Opportunities Seen
Lowe said the credit union sees opportunities to grow its member base in south Charlotte and that it plans to expand to a community charter.
The credit union is looking to increase its staff, Lowe told the Business Journal. It has eight full-time employees and one part-time employee. It wants to add a couple of loan officers, service representatives and a back-office position, Lowe said.
In addition to the main office, Blue Flame also operates one branch. Blue Flame has approximately 3,200 members, and reported net worth of 18.48% and net income of $11,000 at year-end 2020.