Saturday , February 24 2024

Credit union looks to expand

Chaffey Federal Credit Union has purchased a 4,080-square-foot building in Upland that it will use for expansion.

The structure, at 1014 W. Foothill Blvd. sold for $1.2 million, according to a statement released by Avison Young.

Steven’s Hope for Children, a non-profit that occupies space the building, was the seller. It has worked out a deal with Chaffey Federal Credit Union to remain in the building.

Avison Young represented both sides in the transaction.

The building is across the street from Chaffey Federal Credit Union’s main branch and headquarters, a 6,100-square-foot building at 1024 W. Foothill Blvd.

“This acquisition was ideal for Chaffey Federal Credit Union,” said Hayden Eaves, principal with Avison Young and a member of the negotiating team. “Chaffey is running out of room at its existing headquarters and this property provides them with the opportunity to seamlessly expand.

Founded in 1964, Chaffey Federal Credit is a not-for-profit that serves primarily education employees in the Inland Empire and San Gabriel Valley, according to the statement.

Check Also

Riverside shopping center gets refinancing

Shopping center gets refinanced

A 99,000-square-foot retail center in Riverside has been refinanced with a $12.8 million loan. The …