Credit Union to Develop 52,000-SF Corporate HQ in Downtown Bremerton

BREMERTON, WA-The transformation of Bremerton’s waterfront gained more momentum this week when Kitsap Federal Credit Union announced it would invest $10 million in a new corporate headquarters office complex adjacent to the $50-million mixed-use waterfront development already underway next to the ferry dock in Downtown Bremerton.

The project will include a three-story, 48,000-sf office building, a free standing, 4,000-sf retail bank branch and, in cooperation with Kitsap Transit, an area to drop off and pick up ferry riders. The credit union and Kitsap Transit are acquiring the land for the project from the Bremer Trust, whose sole beneficiary is Olympic College.

“We conducted a cost analysis of our operations … and concluded there was a need to centralize various functions to achieve greater efficiencies within our system,” says Credit Union President/CEO Elliot Gregg. “This new facility will enable us to re-locate many back office member support departments that are currently housed in a variety of leased locations throughout the area (and) simplify our processes, resulting in significant cost savings. It also affords us with a real opportunity to support the City of Bremerton’s Revitalization Program.”