Piedmont Advantage Credit getting new HQ
Jan 11, 2013 (Winston-Salem Journal - McClatchy-Tribune Information Services via COMTEX) --
Piedmont Advantage Credit Union's desire for a more visible headquarters site has led it to the credit union corridor for the Triad.
The credit union plans to move from Liberty Street to the corner of Stratford and Burke Mill roads in 2014, serving as an anchor in a 22-acre business park to be named Piedmont Advantage Park.
Piedmont spent $1.5 million on its three-acre site, according to Forsyth County Register of Deeds data. It closed on the sale Dec. 21.
Within a short drive of the planned Piedmont site is the headquarters for Members Credit Union at 2098 Frontis Plaza Blvd., Truliant Federal Credit Union at 3200 Truliant Way off Hanes Mall Boulevard and Allegacy Federal Credit Union at 1691 Westbrook Plaza Drive.
Judy Tharp, chief executive of Piedmont, said Thursday the new site will enable it to better serve the majority of its local membership, particularly being closer to the US Airways reservation center and its nearly 1,100 employees.
"The new branch will provide more space and more ease of traffic to members than our current branch in the Pavilions" shopping center at 676 Hanes Mall Blvd. The credit union will maintain a presence near Smith Reynolds Airport, she said.
"Our research showed us where we needed to be to gain more visibility and size," Tharp said.
"We're hoping by being more convenient, we will be more attractive to potential members and potential employers to serve. There's also the retail and restaurant growth down that section of Stratford."
Piedmont was organized in 1949 to serve Piedmont Aviation and Piedmont Airlines employees. It has 10 branches and is open to residents in Duplin, Forsyth, Guilford, Iredell, Mecklenburg, New Hanover and Rockingham counties.
Tharp said she could not provide a cost or size of the headquarters because it is still being designed. She said it will not approach the $20 million and $19 million that Allegacy and Truliant spent on their headquarters, respectively. Truliant's headquarters is 120,000 square feet, while Allegacy is at 87,000 square feet.
"We're not at their size so we will not need their size footprint," Tharp said of Piedmont, which has $230 million in assets compared with Truliant's nearly $1.6 billion and Allegacy's $980.9 million.
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