Westoba Credit Union puts two buildings up for sale
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Hey there, time traveller!
This article was published 26/10/2023 (892 days ago), so information in it may no longer be current.
Westoba Credit Union has unveiled plans to sell its building at 220 10th St. and its former 1020 Princess Ave. branch in Brandon following ongoing renovations and an evolution in its approach to banking in the digital age, the credit union said.
The 10th Street building serves as the corporate headquarters for Westoba and does not serve members directly.
“Our listing price for both buildings and property is $11.15 million,” president and chief executive officer Jim Rediger told the Sun.
Westoba’s decision to place the 10th Street building on the market, according to a statement issued on Wednesday, comes as the financial institution embraces digital banking technologies and virtual platforms to enhance its services for members.
“Employees will continue to work out of the main floor at this location. The sale will not impact the services provided to members, as Westoba’s virtual services and branches, including those in Brandon, remain fully operational,” the statement said.
“For 60 years, we have been fiscally responsible to our entire membership,” Westoba board of directors chair Garnet McBurney said. “We make decisions that are in the best interest of our members, and with the sale of this building, the focus will be to reinvest back into the organization through personnel development, technology, and innovation that benefits members.”
Westoba said it has adopted a hybrid workforce policy, with 46 per cent of its employees currently working remotely. The digitization of daily work and the hybrid work model have significantly reduced employee foot traffic to the 10th Street building, the credit union said.
“In both 2021 and 2022, Westoba had a strong financial performance. Part of our success is the satisfaction of our employees, including listening to our staff who voiced their preference for a hybrid work environment,” Rediger added.
Brian Baker of Royal LePage in Brandon is handling the sale of the buildings as a package.
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