Vibrant growth has led Mountain Home-based Pioneer Federal Credit Union to purchase an 18,500-square-foot office building near Boise Town Square to consolidate several non-branch functions in the Treasure Valley.
For the past two years, Pioneer Federal has duplicated several Mountain Home departments in the Treasure Valley, housing them in available space at branch offices.
“We put people in business lending in spare office space in Meridian,” Pioneer Federal CEO Curt Perry said. “We put indirect lending in extra space in Nampa. We put IT in another branch. We have completely filled all of those branches.”
Pioneer Federal bought the building at 8100 Emerald Street at the end of June for $1.5 million and about 20 people are expected to move in at the end of February or early March, Perry said.
The above-named departments will move to Emerald, as will mortgages, marketing, business development and financial advisors. More departments could be added, he said.
The credit union will only occupy 8,000 square feet at this time, with existing leases remaining in place for 2,300 square feet and 5,500 square feet for a doctor’s office and behavioral health office. Another 1,500 square feet remain for lease.
Pioneer Federal has been in growth mode in the 2010s, building Boise branches on Broadway in 2015 and on State Street in 2017. It has 14 branches in the Treasure, Magic and Wood River valleys and in Mountain Home.
Perry foresees adding branches in Boise, Meridian, Nampa and Twin Falls.