Soon-to-be 6th largest WA credit union will build $10M business hub in Kennewick
HAPO Community Credit Union is preparing to build a $10 million complex to house its growing commercial and business banking lines in west Kennewick.
The HAPO Business Complex will consist of two buildings totaling 31,000 square feet on vacant land at 9757 W. Clearwater Ave., near Utah Street and Calvary Chapel.
Crystal Contreras, vice president of community engagement for the Richland-based credit union, said the business complex was necessitated by HAPO’s pending acquisition of Community First Bank.
The deal, announced in October, is expected to close Aug. 1.
The Kennewick bank will be absorbed into the credit union, resulting in an institution with approximately $2.9 billion in assets serving more than 220,000 members. Their combined assets will make it the 6th largest credit union in the state.
The two financial institutions operate 25 branches in Washington and Oregon.
The new business hub will house the combined commercial and business operations and a private banking office in one building.
The second will house HAPO operations but won’t be open to the public. A future phase will add 7,000-square-foot conference center and multipurpose space.
Work begins in June or July.
Contreras said HAPO chose the Clearwater spot for its easy access to the freeways and larger community and because both HAPO and Community First have commercial business offices in the vicinity. It paid $3 million for the four-acre property in January.
HAPO’s existing business complex at the iconic Flashcube building at West Clearwater and South Columbia Center Boulevard. HAPO will continue to occupy the Flash Cube building.
The project team includes Design West Architects, Chervenell Construction and Knutzen Engineering.
About 110 employees will work in the initial two buildings, which will be served by a 128-spot parking lot with two driveways connecting to West Clearwater, according to planning documents pending with the city of Kennewick.
HAPO, with $2.33 billion in assents currently, is Washington’s eighth largest credit union, according to the National Credit Union Service Organization.
Boeing Employees Credit Union is first at $30 billion, followed by Richland-based Gesa Credit Union at $5.6 billion and Spokane Teachers Credit Union (STCU) at $5.4 billion. The next are Washington State Employees, Numerica, Whatcom Education and Sound credit unions.