Thursday, January 7, 2016

Workers’ Credit Union Expanding Again

Workers’ Credit Union purchases additional office space in Littleton to accommodate its rapid growth, freeing up needed space in their Fitchburg and Lunenburg offices.

The $1.3 billion community credit union has just closed on a multi-tenant office building at 119 Russell St., Littleton. Located at the intersection of Routes 495 & 119 this site will house Workers' senior management team and a number of administrative departments. The current main office location in Fitchburg will continue to house all of the other departments it does today which include mortgage and commercial lending, collections, deposit support, loan servicing, and a number of smaller units. The Workers’ branch at the same location will continue to serve the community.  

According to Doug Petersen, president and CEO, Workers’ Credit Union, the growing organization has run out of space at its Main Street facility.  “This new arrangement gives us the best of both worlds; it allows us to maintain a major presence in Fitchburg while giving us an outpost in a market where we have seven branches and plan to add more.” Earlier this year, Workers’ opened branches in both Westford and in Fitchburg at Monty Tech High School. 

Workers' Monty Tech Branch, Fitchburg, MA.

“Workers’ Credit Union is committed to Fitchburg and will continue to support the community with employee volunteer hours, financial contributions and leadership,” Petersen said. Former Fitchburg Mayor Lisa Wong said "I am glad to see that Workers’ Credit Union is committed to remaining on Main Street in Fitchburg.  Workers’ is a big supporter of the Fitchburg community and I am glad they will continue to be a fixture here."  New Mayor Steve DiNatale also stated “I am looking forward to having Workers’ Credit Union as a partner for many years to come; to help the City of Fitchburg move ahead”.

‘We are growing at a rate of 10 to 15 percent per year and this new office space will allow us to accommodate that level of expansion well into the future while freeing up space in our Fitchburg and Lunenburg offices for our operational departments to expand,” Petersen said.

In addition to the office building Workers’ Credit Union has also purchased a parcel of adjacent land on which it plans to build a new, state-of-the-art branch. “We are looking forward to having a branch in Littleton and being even more convenient for our members in the area,” said John Doyle, senior vice president of retail services. The credit union will begin work to upgrade the office building shortly with an exact move-in date to be announced at a later date.