ROANOKE, Va.–Freedom First Credit Union said it has purchased the Elmwood Building in Roanoke’s downtown historic district to serve as its future corporate headquarters.
Built in 1919, the Elmwood Building has been used by a hardware store, furniture warehouse, Meridium, Inc., and most recently by GE Digital, the credit union said. Consisting of four floors and approximately 46,500 square feet, the building will continue to house GE Digital on three floors with Freedom First’s administrative offices occupying the fourth floor.
As more space becomes available in the building, Freedom First said it will move employees into those areas.
"Our continued growth has made it possible to purchase this terrific property where we will one day consolidate many of our business units into one location,” said President and CEO Paul Phillips. “One of our focus areas is providing loan capital to commercial developers who transform old buildings into community assets. So, it seems only fitting that our headquarters would be located in just such a building, with its timber framing, exposed brick, original floors and a blend of modern amenities, it’s a truly beautiful building that our team members will enjoy.”
Location in Enterprise Zone
Freedom First said it is excited to invest even more capital and economic activity into Downtown Roanoke with the relocation of the headquarters to an Enterprise Zone. It also brings the credit union closer to the active community partners, local businesses, and members that have helped it grow over the past 65 years, the CU added.
The $785-million Freedom First has more than 58,000 members.