IH Mississippi Valley Credit Union (IHMVCU) is expanding its footprint to the Des Moines market, where it broke ground on a new financial center Tuesday, Aug. 16.
Leadership from IHMVCU joined dignitaries from Des Moines for a ceremonial groundbreaking of the new facility at Merle Hay Mall. The future center will be the Moline-based credit union’s first branch in the Des Moines area and its 13th across eastern Iowa and western Illinois. The planned 4,400-square-foot building will be built on a mall outlot at 3990 Merle Hay Road.
“While our roots started in the Quad Cities along the Mississippi River in 1934 with eight production workers at the International Harvester East Moline plant, this new financial center in Des Moines will be a continuation of that commitment to reduce financial stressors in our members’ lives and improving the overall financial health of the communities we serve,” Brian Laufenberg, IHMVCU president & CEO, said in a news release. “It’s the driving force behind all we do.”
The new center will provide career opportunities for about eight to 10 team members. The new financial center will focus on our members’ needs offering one-on-one coaching and new technology. The credit union’s goal is to reduce obstacles in the way of its members to guide them to a better financial future.
“We’ve experienced tremendous growth the last few years. In 2021, we put almost $1 billion to work in loans for our members. That’s a big impact in our communities,” Mr. Laufenberg added.
The building is expected to open in summer 2023. The project’s team includes contractor Estes Construction, Davenport, and building design firm Refinery Design Company and Lundh Architect LLC, both from Dubuque, Iowa.
IHMVCU is 140,000 members strong and has $1.8 billion in assets, making it the largest credit union in the Quad Cities region, and the sixth-largest credit union in Illinois. For more information, visit IHMVCU.org.