Numerica Credit Union has begun construction on a $2.6 million remodel of vacant space at its Spokane Valley headquarters, at 14610 E. Sprague. 

As the Journal reported earlier, the project is meant to accommodate growth in the credit union’s business services department, which includes commercial lending, SBA lending, and private banking.

Media relations liaison Elizabeth Giles says Numerica started construction on the project in April and anticipates the space will be ready to move into by early September.

“We’re excited for the job growth this project has inspired, not only from the crew making the build possible but for the new employees who will be filling the space,” says Giles. 

Spokane-based Bernardo|Wills Architects PC designed the new space, and Leone & Keeble Inc., of Spokane, is the general contractor for the project, which includes converting 18,000 square feet of previously unused space into the credit union’s new business services and home loan center offices.

Plans show the newly expanded space will be configured to include 20 offices, 20 open-concept work areas, three conference rooms, and a waiting area for business members.

Gregory Hansen, senior vice president of business services for Numerica, says its business services department has grown fourfold in the past seven years. 

 “With that larger portfolio, we’ve determined now is the time to grow that space,” he says. 

Hansen says Numerica currently has 35 business services employees, and the expansion will enable the credit union to make further additions to staff on the lending and credit functions this year, possibly as many as three new hires. 

“As membership and portfolio growth continue to increase, the new space will be able to accommodate additional future hires,” he says. 

Hansen adds that the business services team is doing well so far this year, with loan production volume running 70 percent above budget, an increase in commercial loans outstanding of 85 percent above budget, and loan fees at 140 percent above budget.

“Our business services team is having an amazing year thus far,” he says. “Loan production and deposit growth volume is strong for all lending teams, and the additional staff in private banking, business banking, and SBA lending have made very strong contributions.”