Arkansas Federal Credit Union has purchased the building now occupied by Family Life in West Little Rock for more than $12 million, and will transition from its Jacksonville headquarters to the new location over the next 18-24 months.
The 97,000-square-foot building at 5800 Ranch Drive will accommodate growth plans for Arkansas Federal, and will allow the organization to add a new branch location to better serve that growing area of central Arkansas. The Little Rock Air Force Base and Jacksonville branches will be maintained, in addition to some back-office staff.
“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 CEO of Arkansas Federal, said in a statement. “We are excited to be able to have all of our operations staff under one roof in this new facility. We have continued to invest heavily in IT, training and marketing, and the additional space sets us up for growth for generations and gives us flexible floorplans, abundant natural light, and greater amenities for our employees.”
Family Life will continue operating at the Ranch Drive location through August, and then Arkansas Federal will begin remodeling and retrofitting the space. When the remodel is substantially completed in 2021, the space will initially house approximately 200 employees and will be able to expand to nearly double that number of staff.
“Jacksonville has been a great home for the past 60+ years, and we will continue to have a strong presence in Jacksonville,” Showmar said.
Arkansas Federal operates 15 branches in central Arkansas, the Fort Smith metro, and Northwest Arkansas. The credit union is in the process of adding branches in Sherwood, Maumelle and Benton.
Arkansas Federal Credit Union is the largest credit union in Arkansas with more than $1.2 billion in total assets and more than 300 employees. Arkansas Federal has 15 branches in Arkansas, which serve more than 108,000 members.