Tri-Cities Community Federal Credit Union plans to move into a new, larger space within the next 18 months to accommodate growth and better serve its members.

The credit union at 2626 W. Kennewick Ave. has outgrown its current space, said President Doug Wadsworth.

“The decision for a new location and larger facility was made by our volunteer board of directors, who are all unpaid volunteers and members of the credit union,” Wadsworth said. “We’ve known it was coming for quite some time because we’ve been crammed in this tiny building with very little parking for a long time.”

The Kennewick credit union is squeezed between Little Caesars and Papa Murphy’s, its location for the past 37 years.

“We’ve been growing like crazy. We’ve grown from $15 million in assets eight years ago to $35 million in assets currently,” Wadsworth said. “Our membership has grown from about 3,500 members to 5,500 members.”

Wadsworth attributes the growth to “having great business partners” but primarily to lending.

“We’re really competitive with loans. Our most popular have been HVAC loans. We offer nice, easy loans for ... normal people – nothing big and fancy. We’ve also done in-house, 10-year mortgage loans and car loans,” Wadsworth said.

The not-for-profit financial cooperative has a philosophy of helping “the ‘common person’ to achieve their financial goals through the money we can help them save, by encouraging thrift and by providing financial education when possible.”

The credit union is managed by a member-elected, volunteer board of directors and was federally chartered in 1969 by the International Brotherhood of Electrical Workers Local 112.

Membership is open to anyone who lives, works, worships or attends school in Benton and Franklin counties, and their immediate family. Profits are returned to member-owners in the form of better rates, lower fees, better service and more products.

“I try to stay up with all the bells and whistles. In fact, we were the first local credit union to roll out mobile check deposit,” Wadsworth said. “We try to stay cutting-edge with electronic services.”

He said the credit union is a “small alternative” to larger credit unions.

“People tend to like the personal service involved with that. We know their names,” he said. Credit union employees take pride in getting to know members.

One challenge has been the lack of parking at the current location, Wadsworth said.

“It has been very frustrating for members,” Wadsworth said, but it won’t be an issue at the new location on 19th Avenue and Highway 395 in Kennewick. The credit union closed on the two acres in mid-July.

Besides the construction of a 10,000-plus square-foot building, the new location will offer ample parking, multiple drive-up lanes and at least one ATM.

Building specs and the construction timeline are hazy at this point, but the goal is to be open and operating there within the next year and a half, Wadsworth said.

The credit union’s Facebook page and member newsletter will continue to provide information on the upcoming project.

“Most of our members are very excited. We’ve really gotten a positive response about the location. Most of our members are around this area of Kennewick, so access will be a lot easier for them,” Wadsworth said.

The credit union has 11 full-time employees, a number that may grow a bit after expansion.

“Research shows that when you move into a new, more visible area, you’ll likely experience growth,” Wadsworth said. “We anticipate growing a little more and may need a couple more employees at that time.”

“This new building will help us better serve our members. Our goal is to make a better product for our members and ultimately help the community,” Wadsworth said.

For more information visit tri-citiescu.com or call 509-735-8331.