Land Swap Transforms CU Site To CityHall

Register now

COQUILLE, Ore. - (08/05/04) -- Oregon First Community CU said ithas agreed to sell its downtown headquarters building to the city,which will convert it t a new city hall. The credit union will thenbuy a vacant downtown automobile showroom and tear it down to builda three-story, 28,000 square-foot headquarters. Under the deal withthe city, Oregon First, formerly Oregon FCU, will lend the city$682,000 at 1% a year to finance the purchase of itsproperty.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER