PSECU prepares to relocate into new building in November
The new headquarters of the Pennsylvania State Employees Credit Union should be ready to open in early November, with all of its nearly 600 employees moved in by the end of that month.
PSECU is planning a late October dedication of the new building, which has taken almost two years to complete, before activating a three-phase move-in process on November weekends.
The original completion date was October, but officials said the project is slightly behind schedule.
The end product will be worth any wait, PSECU President Gregory A. Smith said.
"It's 98 percent complete," he said during a late August tour of the Susquehanna Township facility. "It's going to be a great new facility."
PSECU has 405,000 members and $4.25 billion in assets under management, Smith said. That makes it the state's largest credit union in both categories, according to the Pennsylvania Credit Union Association.
According to PJ Dick, the Pittsburgh-based construction company on the project, the building has three floors with 235,000 square feet of office space. Smith said the cost of the entire project — construction, land acquisition and relocation costs — will be about $74 million.
"We're actually a little under budget," Smith said.
The property sits on about 47 acres of former farmland — there are still acres of cornfields directly behind the new building — that the state sold to PSECU. The state owned four parcels of adjacent land at 1500 Elmerton Ave., and, initially, PSECU planned to occupy the parcel behind its current location.
But after testing, PSECU officials found that spot sat on a former landfill. Smith said construction officials could have gotten around that issue, but it would have cost an extra $10 million.
That led PSECU to its current location, which will leave the present building nearly vacant when the move is complete. Only the credit union's member services office will remain, and Smith said PSECU hopes to keep the credit union's presence at the building no matter who buys it.
If no one buys the 180,000-square-foot building at Cameron Street and Elmerton Avenue, PSECU will keep a branch there.
CBRE Inc. has PSECU's current headquarters, a two-story building on 9 acres, listed at $9 million.
The credit union has been in the building since 1990.
Much of the information technology department is already moved into the new facility, with about 10 members of the team splitting their time between buildings, Smith said.
The servers already are functional at the new building and are hard-wired to the servers at the current building. Activating the new servers now will prevent system disruption for customers when the old servers are turned off.
Smith said the company will not move its current servers to the new building. Many of those, he said, were brought in with the knowledge the end of their shelf life would be near the time of the move.
"Some of the machines, once they go cold, you don't know if they'll ever get hot again," he said. "We didn't want to risk it."
While the new facility — designed by Crabtree, Rohrbaugh & Associates in Upper Allen Township — isn't expected to immediately jump-start business, Smith said within the next decade, PSECU is hoping to have about 1,000 employees.
"We have plans for growth in the future that I think we can get to," said Smith, who has been the organization's president for 22 years.
A floor-by-floor look at what you’ll be able to find inside the new PSECU headquarters in Susquehanna Township:
First floor: Child day care with outdoor play area, food court with kitchen, security station, gym, locker room, yoga/fitness room, human resources, interview rooms, main meeting room for up to 500 people, electrical centers
Second floor: Credit, loan and IT departments, main servers
Third floor: Executive offices, law offices, rooftop garden
Outside: Large parking lot area, 1-mile walking trail for employees, power generator