MEMPHIS – LG&W FCU said it plans to build a 7,800-square-foot, single-story building here to serve as its new home.
The project, which will include a full-service branch, is estimated to cost $2 million.
LG&W FCU is a credit union for employees and retirees of Memphis Light, Gas and Water Division and currently has three branches. The 68-year-old credit union has about $85 million in assets.
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Federal Reserve Vice Chair Philip Jefferson said in a speech Tuesday that despite positive employment readings in recent months, he remains concerned that an economic shock could still threaten the labor market.
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