What: New Mid Oregon Credit Union branch in Madras

Where: 431 S.E. Fifth St., Madras

Owner: Mid Oregon Credit Union

Architect: HGE Inc., Coos Bay

General contractor: SunWest Builders, Redmond

Contact: 541-382-1795

Details: Mid Oregon Credit Union, the Bend-based credit union which recently surpassed $100 million in deposits, is building what will be its fifth branch and its first credit union office in Jefferson County, according to Mid Oregon’s president and CEO, Bill Anderson.

The 2,500-square-foot, single-story branch will enable the credit union to more conveniently service the roughly 1,000 account holders in Madras and help the credit union grow its customer base, Anderson said. It’s scheduled to open in early summer.

“I started two years ago, actively searching in Madras for a location because we have about a thousand accounts there and have been serving the area for 50 years, so it’s been in our business plan for years,” Anderson said.

Mid Oregon, which was formed in 1957, already has two branches in Bend, plus branches in Redmond and Prineville.

Anderson said the Madras site is on land that was refurbished by the Madras Redevelopment Commission. It previously was home to a used-car dealership.

The new Mid Oregon branch in Madras will include walk-up and drive-through ATMs that will be open 24 hours. In addition, the branch has several green building features, including a parking lot of permeable pavers rather than asphalt, Anderson said.

Credit unions are similar to banks but have different regulatory supervision and are membership-based. Membership in Mid Oregon is open to anyone who lives, works or attends school in Deschutes, Crook and Jefferson counties, according to Mid Oregon. Credit unions that are members of the National Credit Union Share Insurance Fund insure member deposits for up to $250,000.

— Andrew Moore, The Bulletin