RICHMOND, Va.–The Virginia CU League is finalizing a $4-million investment in four downtown buildings here, part of which will become the Credit Union House of Virginia.
The three-story, 13,000-square-foot outpost at 108 N. Eighth St. will serve as a home for some of its staff and as a base for its lobbying efforts on behalf of its members, according to Richmond Biz Sense.
Richmond Biz Sense quoted VCUL CEO Rick Pillow as saying the league, which has been headquartered in Lynchburg for 80 years, has been working toward establishing the facility for the past four years.
Richmond is the Virginia state capital. Pillow told the publication the presence in the city will allow it to more closely work with and monitor the state legislature.
In 2012 the league received an offer to purchase buildings adjoining the building where it had been leasing space. Then two more buildings became available. The expanded space allowed for creation of the Credit Union House of Virginia, which is modeled on the Credit Union House in Washington, according to Richmond Biz Sense.
The finished building will have two floors of office space, with the league taking the top floor. Nine offices on the second floor will be leased out when the renovations are complete. Several of the existing offices in the building are already leased by lobbyists, the league reported.
The Credit Union House of Virginia will be located on the first floor and will consist of a reception area, banquet room, a bar area and a board room. Credit unions from around Virginia will be able to use the facility for meetings.
The league will also maintain its office in Lynchburg.