The rapid
influx of residents into the Las Vegas area between 1983 and 1993 translated
into tremendous membership growth for Silver State Schools Federal Credit
Union. With a small main office and many areas of the city not serviced
by branches, the credit union enlisted KDA Holdings to spearhead its much
needed expansion.
A strategic facilities plan completed by KDA in 1994 projected accelerated
growth for Silver State – with assets soaring to $600 million by
2004. To support this growth trajectory, KDA recommended a multi-phase,
multi-facility development strategy that combined an immediate 20,000
sq. ft. main office expansion with storefront openings and six additional
branches slated to be built over the next decade.
Versus relocating and rebuilding on new real estate, the decision was
to expand Silver State’s main office by purchasing land adjacent
to its existing site. This solution allowed the credit union to take advantage
of attractive property costs and maintain direct accessibility to its
largest member base – saving more than $1 million in the process.
Moreover, KDA strategically phased construction to ensure that Silver
State’s doors remained open throughout the full 15-month building
phase.
