Wednesday, August 15 , 2018, 5:01 am | Fair 65º

 
 
 
 

Business

CoastHills Unveils Major Building Plans

Fresh off topping $1 billion in assets for the first time in the organization’s 58-year history, CoastHills Credit Union is unveiling plans to build a 90,000 square-foot corporate headquarters at a landmark location in Santa Maria.

The $25 million, three-story corporate building will occupy a parcel of the Enos Ranchos development at Betteravia Road and Highway 101. This announcement comes on the heels of a year in which the credit union not only saw its assets climb above $1 billion but also opened its first branch in Ventura County in the fall.

Groundbreaking is expected in the second quarter of 2017 with construction scheduled to be completed in late 2018.

“As our asset total shows, we’ve seen tremendous growth over the past decade, particularly after adopting a state charter in 2014." said Jeff York, CoastHills president/CEO.

"With an expanded field of membership that now runs up and down the Central Coast from Santa Cruz to Thousand Oaks, it makes sense to plant our headquarters in a convenient, centralized and accessible location right in the heart of our membership base,” he said.

The 16-acre parcel housing the corporate headquarters in Santa Maria will be called the CoastHills Center, and separate buildings will be home to Lowe’s Home Improvement and multiple retail/restaurant sites.

One floor of the CoastHills headquarters initially will be available for sublease to community businesses with the intention for the credit union to grow to fill the space.

The parcel is near the site from where the Smith-Enos Ranchos farmhouse was relocated in June. While not replacing the historical landmark, CoastHills’ corporate headquarters hopes to serve as a worthy waypost in what city leaders have come to call Santa Maria’s “front door.”

Design and construction of the corporate facility are being provided by Specialty Construction Inc., a San Luis Obispo-based company that has served the Central Coast for the past 23 years. The decision to go with a local firm was important to the credit union.

“We ask our business members all across the coast to trust a local financial institution with their business,” York said. “We put that same trust in Specialty, a local firm. And I think people are going to be very impressed with the result of this local partnership.”

Included in the design is a state-of-the-art credit union branch on the bottom floor, which will be modeled similarly to CoastHills’ new branch in Thousand Oaks. That location is CoastHills’ first to utilize Interactive Teller Machines (ITM), which service members through a virtual face-to-face experience with a live member services officer.

Aside from the banking branch, the rest of the corporate headquarters in Santa Maria includes office space for more than 150 employees with room to grow. Including branch staff at 12 locations on the Central Coast, CoastHills employs 230 people and is projecting to add up to 150 jobs in the next decade.

The space will have a meeting room/auditorium for up to 300 people with the second floor slated for growth and potential subleasing. The facility will be more than double the size of CoastHills’ current headquarters in Vandenberg Village.

The credit union originally organized in 1958 to meet the financial needs of Vandenberg Air Force Base military personnel and its civilian employees. Among 12 CoastHills branches are locations on H Street in Lompoc, at Vandenberg Air Force Base and in Vandenberg Village.

“Commitment to our members in the Lompoc Valley, both current and future, will always be strong,” York said.

CoastHills is the second-largest locally-owned financial institution on the Central Coast.

— JD Scroggin for CoastHills Credit Union.

 

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