DOVER — In the wake of changes in the credit card industry, the $202 million Dover Federal Credit Union has purchased a building formerly used by MBNA as a call center to use as its new headquarters.
MBNA, which has since become part of Bank of America, has been a leading purchaser of CU credit card portfolios.
The CU did not identify how much it paid for the building, which reportedly includes more than 20,000 square feet of office space and sits on 11 acres. The five-branch CU, which is currently headquartered on Dover Air Force Base, needs more space for its headquarters, as its membership has grown to more than 35,000, both civilian and military, from the base and surrounding employers.
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"This acquisition will enhance the continued planned growth of branch locations and services for the benefit of our member owners," said David Clendaniel, CEO of Dover FCU, in a prepared statement. "The location will serve as the future Corporate Headquarters, combining the Administration, Operations, Training, IT and Marketing departments to serve our members more efficiently. In addition, it will be able to accommodate the anticipated growth of our Member Call Center."
Some of those calls will almost certainly involve credit cards since the CU had a portfolio of over 3,100 cards as of March 31, worth almost $4 million.
Clendaniel said that the CU had taken care to reassure the command structure at Dover that even though the CU would move its headquarters off base it would still continue to be rooted in the base and serving the base's staff and workers.
"I want to reiterate that even though my office will no longer be in this building, I am still 100% committed to this base and the CU is committed to serving its employees both professionally and in the community," he said.
He also explained that the move would likely be more or less a wash financially for the CU since the CU actually built the building it now occupies on the base in 1974 and will maintain a branch in the building even after the move. This will keep some of the costs of the old facility with the CU, he explained, but the move will allow the CU to move its call center and offices, which are currently spread across the Dover area in leased space into the CU's owned building.
MBNA used the facility as a call and administrative center until the Bank of America purchase. Bank of America closed the facility after the merger.
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