Community Powered Federal Credit Union held what it called an inauguration ceremony to mark the opening of its new branch office and headquarters in Bear, Del. at 758 Pulaski Highway (Route 40).
The member-owned credit union is open to residents of New Castle County, north of the Chesapeake and Delaware Canal.
The credit union has its roots in serving employees of Delmarva Power, but has since merged with other credit unions serving News Journal, Hercules and other employer groups.
Architect for the $4 million project was Crabtree, Rohrbaugh Associates, Mechanicsburg, Pa. General contractor is Commonwealth Construction, Wilmington.
The 10,000 square-foot building featured the use of recycled materials including structural steel, gypsum board for walls , carpet tiles and other materials. The architect specified regional materials, wherever possible to reduce transportation costs.
Credit union CEO Anthony Hinds said the site was chosen because of its proximity to a growing area with many middle-income families that could use its financial services.
The project was delayed by the economic downturn in 2008 and an inability, for a time, to obtain utilities at a reasonable cost.
The credit union has 9,000 members, 25 employees and $118 million in assets.
