The nation's oldest credit union is getting new digs. The $739 million, 81,800-member St. Mary's Bank is building a new corporate headquarters on McGregor Street in Manchester, N.H., just in front of its current headquarters.

Ground was broken on Wednesday for the three-story, 29,000-square-foot scheduled for completion as a LEED-certified facility in fall 2013, St. Mary's Bank officials said. At that point, the current headquarters will be demolished to make way for a new, four-lane drive-up area.

The facility will include a branch office, mortgage and commercial lending divisions, human resources and executive administration offices.

“The planning for this new office has been in the works for many years and I think our members, employees and neighbors will be very pleased with the new building. It was designed to incorporate technology to meet the growing needs of our membership and provide a healthy and productive working environment for employees,” said Ronald Covey, Jr., St. Mary's Bank president/CEO.

“As far as location, there was never any question that we would remain here. It has been our home since 1930. Moreover, it is in sight of our original office, which was established nearly 104 years ago,” Covey said.

Established in 1908 as America's first credit union, St. Mary's Bank now has branches in the New Hampshire communities of Manchester, Hudson, Londonderry, Milford and Nashua.

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