The 137,000-square-foot building was once fully occupied by Computer Sciences Corporation. CSC still is a tenant in the building.
Ohio’s largest credit union is currently headquartered in Fairborn at 2455 Executive Park Blvd.
Credit union officials said the move is prompted by the nonprofit’s “rapid growth,”which has led to cramped space at the headquarter offices.
Wright-Patt has 25 branch offices, serving more than 260,000 members. Assets have grown to approximately $2.5 billion.
Several options were explored.
“We looked into adding on to our current building, purchasing land and constructing a new building, and purchasing an existing building,” said Douglas Fecher, credit union president and chief executive officer in a statement. “Adding on to our current building ended up not being a viable option, and we needed a solution that would alleviate our space constraint quickly. This made purchasing an existing building the best choice.”
A new building would also take two to three years to build, said Matthew Davidson, Wright-Patt Credit Union chief financial officer, in a statement.
“When compared to other financial institutions our size, our building expenses are only about half the amount of others, and the purchase of this new building will only increase our expenses by less than 1.80 percent,” Davidson said.
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