TEMPE, Ariz. — After years of having its headquarters based in El Segundo, Calif., Continental Federal Credit Union is moving to Tempe.
In May, the $200 million credit union will mark the opening of its new headquarters along with a new branch in Tempe, which will be housed in the same complex, said Tom Glatt, president/CEO. Tempe is home to US Airways. Continental FCU has a separately branded membership with US Airways CU.
Continental FCU's El Segundo branch is currently located in a temporary facility until the permanent one opens in July. A new branch in Houston, home to Continental Airlines, is also scheduled to open later this year.
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"It turned out to be a good move. We've already signed up 75 more Continental Airline employees for membership," Glatt said.
Described as "family friendly," the new branches are not built on airport grounds but are in close proximity, Glatt said.
Continental FCU is on track with most of the initiatives launched over the past year, Glatt said. Membership is approaching the 27,000 mark. With a "loan program that has taken off," the credit union's loan-to-share ratio jumped considerably from 30-35% a year ago to nearly 80%, he added.
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