TEMPE, Ariz. - The airline industry may be consolidating, but Continental FCU is branching out, starting with moving its headquarters from El Segundo, Calif. to this market. The credit union had long since outgrown its El Segundo facilities; it was time to do a thorough analysis to see where it made the most sense to locate the headquarters, according to CEO Tom Glatt.
“We looked at finding another space in El Segundo, Houston–where Continental Airlines has its headquarters, or Tempe, home of US Airways, our other sponsor,” Glatt explained. “Our analysis showed that Tempe was the best place to relocate for two primary reasons: 1) the cost of commercial real estate and 2) the quality of life for our employees.”
Glatt and two other executives fly back to California once a month for board meetings. The credit union has been looking to diversify the board, which is made up of former Continental Airlines employees. “People will say it’s because of the move, but the fact is, even before the move, the board had expressed a desire to get some US Air representation on the board.” he related, noting that US Air employees make up about 8,000 of the CU’s 26,500 members.
On May 5, the CU will open a full-service, “family-friendly’ branch in an office park in Tempe, called that because it is not located on airline property. In the fourth quarter, the credit union will open another family-friendly branch in Houston.
