The project will include a three-story, 48,000-sf office building, a free standing, 4,000-sf retail bank branch and, in cooperation with Kitsap Transit, an area to drop off and pick up ferry riders. The credit union and Kitsap Transit are acquiring the land for the project from the Bremer Trust, whose sole beneficiary is Olympic College.

"We conducted a cost analysis of our operations ... and concluded there was a need to centralize various functions to achieve greater efficiencies within our system," says Credit Union President/CEO Elliot Gregg. "This new facility will enable us to re-locate many back office member support departments that are currently housed in a variety of leased locations throughout the area (and) simplify our processes, resulting in significant cost savings. It also affords us with a real opportunity to support the City of Bremerton's Revitalization Program."

The developer for the credit union project is Bellevue, WA-based Opus Northwest, which is also the developer of the neighboring $50-million New Center at Bremerton. New Center will consist of a 42,000-sf retail and office building, a 20,000-sf conference center, a 110-room hotel and a 7,000-sf restaurant and a public plaza, all atop three levels of underground parking.