The Culture of Business
Security Service Federal Credit Union
Expands Corporate Headquarters in San Antonio
SAN ANTONIO (Dec. 5, 2014) – Security Service Federal Credit Union (SSFCU), the largest credit union in Texas and seventh largest credit union in the United States, is taking steps to establish a new corporate headquarters in San Antonio.
While the SSFCU project remains in the early stages of development, the City of San Antonio and Bexar County are in the process of finalizing incentive agreements with SSFCU.
The City plans to vote Thursday, Dec. 11 on an incentive package that will aid in the development of public improvements, as well as create and retain 947 total full-time jobs.
Security Service owns a 66-acre parcel of land on Interstate Highway 10 near UTSA Boulevard and initially plans to construct 250,000 square-feet of space to include an operations building, amenities building and parking structure. The new corporate campus will accommodate SSFCU’s short- and mid-term needs, as well as provide expansion space for the company to grow well into the future. The company will begin construction of the new corporate campus in early 2015. Hiring for the new positions at the campus will begin in late 2015.
“We applaud Security Service Federal Credit Union’s decision to create and retain 947 jobs and expand their corporate headquarters in San Antonio. Their expansion demonstrates the importance of the Business, Retention and Expansion program in the City’s economic development strategy,” said City of San Antonio Mayor Ivy Taylor. “This project and the headquarters of SSFCU will have a positive and lasting impact on our city.”
“In addition to creating new jobs, business retention is a critical part of any community’s economic development strategy,” said Bexar County Judge Nelson Wolff. “I applaud Security Service Federal Credit Union’s decision to expand in San Antonio and invest in needed infrastructure.”
Security Service plans to use the new campus as its corporate headquarters employing 947 banking and financial professionals.
“Beyond enhancing the connectivity and infrastructure of San Antonio’s northwest corridor, having the City embrace the growth of a leader in a key sector like financial services benefits the entire South Texas region,” said District 8 Councilman Ron Nirenberg.
“The partnership forged between the City and SSFCU makes this project a win-win for all parties,” said City Manager Sheryl Sculley. “The City’s investment goes to public improvements at the site, which maximizes the headquarter campus’ value and the use to residents, existing and future businesses and the UTSA community.”
In addition to its corporate headquarters in San Antonio, SSFCU has regional U.S. offices located in the Costal Bend, Rio Grande Valley, El Paso, as well as locations in Colorado and Utah. SSFCU considered relocating its headquarters to a few of the aforementioned markets before reaffirming its commitment to stay in San Antonio.
“What a great economic development project by a local company. The SAEDF and our partners have focused more resources and efforts to grow and retain existing companies,” said SAEDF Chairman Steve Waters. “This huge investment, along with hundreds of new jobs, will have a tremendous and positive effect on the local economy.”
About Security Service Federal Credit Union
Security Service Federal Credit Union offers comprehensive, affordable financial products and services designed to meet the needs of its members. Headquartered in San Antonio, Texas, Security Service is an industry-leading financial institution with $8 billion in assets and 70 locations in Texas, Colorado and Utah. The credit union is one of the top 10 credit unions in the nation. Security Service strives to be America’s best credit union and provides the true benefits of credit union membership with financial services of the highest quality and value. Learn more at www.ssfcu.org or call 1-800-52-SSFCU.
City on the Rise: San Antonio
San Antonio is a city on the rise for the new face of America—a diverse, progressive and globally competitive city with a solid vision for national and international economic development. The City of San Antonio maintains a strong financial position with a “AAA” general obligation bond rating from all three major rating agencies. In 2014, Forbes labeled San Antonio the “Best City in the Southwest” for adults ages 18-34 for its dynamic economy, employment opportunities and affordable living. As the seventh-largest city in the United States, San Antonio is experiencing solid economic growth in 21st century industries such as bioscience, aerospace, cybersecurity and healthcare, which contribute billions to the local economy. San Antonio has also positioned itself at the forefront of the New Energy Economy in the United States, committed to investing and creating employment opportunities in green industries. San Antonio continues to experience the addition of missions at its several military commands, further fostering a significant relationship spanning more than 200 years. Nearly 30 million visitors come to San Antonio every year, generating more than $12 billion annually and making the travel industry a vital asset to the city’s economic health. For more information, visit www.sanantonio.gov.
About the San Antonio Economic Development Foundation
The San Antonio Economic Development Foundation is a private, non-profit organization responsible for attracting new business and industry to San Antonio. The organization has been responsible for the recruitment of 400 companies and more than 100,000 new jobs. For more information visit SanAntonioEDF.com. “Like” us on Facebook at Facebook.com/SanAntonioEDF, follow us on Twitter @SanAntonioEDF and on LinkedIn.