Malheur Federal Credit Union builds larger Ontario headquarters

A 10,000-square-foot building under construction off Interstate 84 will house headquarters for a growing Malheur Federal Credit Union.

CEO Howard Benson said Malheur would occupy the first floor of the building, and reserve 4,000 square feet on the second floor of the two-story building for future growth.

The building, at the northwest corner of East Lane and Southeast Fifth Avenue behind the Ontario Kmart store, will include seven drive-up lanes and two automated teller machines.

“We are outgrowing our existing building here, and since we added Payette County, we are anticipating more growth,” Benson said.

Malheur is based in a building of 4,000 square feet on Sunset Avenue, west of the Westpark Plaza shopping center. It serves 7,500 members who live or work in Malheur County, Ore., or – after expanding its field of membership last spring – in neighboring Payette County, Idaho.

The credit union has 1,500 Payette County residents among its members, and “we hope to serve more” from the new building, Benson said.

Lending and new-account services will move to the new building, which will become Malheur Federal headquarters, he said. Back-office operations will stay in the Sunset office, which will remain open as a branch for teller and ATM transactions.

Malheur will add four people to its payroll when the new office opens in early June, Benson said. The credit union, which also has a branch inside the Logan’s Market grocery store in Vale, Ore., employs 22.

Duane Bellows Construction, Ontario, is constructing the wood-framed building with stucco-like exterior, designed by Payette-based architect John Costner.

The project will cost about $1.4 million including construction and land-acquisition, Benson said.

Malheur Federal acquired the 3-acre parcel from an investor, and will devote 2 acres to the new building, he said. Storage units and a rental house remain on the other acre, which Malheur plans to keep for future expansion or sale, he added.

Assets total $29 million for Malheur Federal.

This year’s roughly 8 percent growth compares to approximately 15 percent annual gains over the previous five years amidst stronger economic conditions, Benson said.

“It’s slowed down a little, but 8 percent is still great to me … We anticipate that once we get the new location, we will grow more than that,” Benson said.

Malheur started in 1957 as a teacher’s credit union in nearby Nyssa, and later added public and hospital employees to its membership. It converted to a community-based charter in 1981.