Credit union buys Roanoke property for $2.5 million

Published March 27, 2015 by Robert Powell, III

Member One Federal Credit Union has bought a 3.2 acre site in central Roanoke for $2.5 million.

Roanoke-based Poe & Cronk Real Estate Group announced the sale, adding that the property could provide additional space for the growing credit union.

The site is the longtime home of Roanoke Auto Spring Works Inc., at 401 Williamson Road NE across from the Berglund Civic Center. The property includes three brick buildings.

“We are very excited about the opportunity to expand the area around our corporate campus,” Frank Carter, the president and CEO for Member One, said in statement. “The purchase reinforces our commitment to the area — we’re from here and we are staying here.”

The credit union’s corporate campus currently includes its headquarters, main retail center, administration building and a real estate center.

Member One is a member-owned financial institution that has been in operation for more than 70 years. It has more than 80,000 members in Southwest and Central Virginia,

Member One has $700 million in assets, 12 branch locations and a national ATM network.

Roanoke Auto Spring Works property is in central Roanoke near the intersection of Interstate 581 and Route 460.