First Federal Credit Union has signed an agreement to open a new Marion branch location in 2020 as the initial tenant in a new retail project being developed by Genesis Equities.
First Federal will occupy about 2,800 square feet of the roughly 11,000-square-foot building at Seventh Avenue and 26th Street east of Lebeda Mattress in the city's Central Corridor.
"We're very pleased to announce this future location," President and CEO Tom Chalstrom said in a press release. "This is an ideal location for our members and is part of First Federal's continued commitment and approach to providing outstanding service and convenience to our members where, when and how they use our products and services."
First Federal is a 10,000-member credit union with offices in Cedar Rapids, Hiawatha and Spencer. Originally chartered in 1926, it is the second-oldest credit union in Iowa.
"Throughout our 93-year history we have continually looked toward the future," Board Chairman Mike Pickering added. "The addition of a new location for our members fits into our strategic objectives for providing best-in-class products and services to residents across Linn County."
Mr. Chalstrom said the branch is expected to open in the first quarter of 2020.