OCCU Announces Headquarters Sale as Part of Broader Workforce Transformation

OCCU | Oregon Community Credit Union announced that it has signed a letter of intent to sell its Eugene headquarters property to Costco Wholesale, a step that advances OCCU’s broader workforce transformation and its ongoing commitment to members, employees and the communities it serves. 

The non-binding letter of intent is one part of a larger movement underway at OCCU as the credit union rethinks how, when, and where work happens. OCCU is embracing technology and artificial intelligence, strengthening its performance culture, and designing an employee experience that enables team members to deliver an exceptional experience for members. 

“At the center of this is our vision to enrich lives. That starts with our members, our employees and the communities we serve. We have an opportunity to build an organization that works differently, serves better, and creates a member experience that is hard to find anywhere else.” 

– Greg Schumacher, Oregon Community Credit Union, President and CEO

That transformation has already changed how OCCU uses its headquarters. After non-branch employees moved to remote work in 2020, OCCU found the model could successfully support employees and members and committed to remaining as flexible as possible. Six years later, still with a largely remote workforce, the credit union currently only uses approximately 40 percent of its 53,000-square-foot building on its roughly 10-acre headquarters property.  

OCCU has been evaluating options for a smaller, more intentional workplace designed around collaboration, connection, and the needs of its employees. “This building has served OCCU well for 20 years, but it was designed for a different way of working,” said Schumacher. “Today we have the chance to be more intentional. It’s not about walking away from the workplace. It’s about creating the right workplace for our future.” 

Those shifts led OCCU to consider whether its current headquarters still fits the organization it is becoming. Costco’s interest in acquiring the property to support its neighboring warehouse created an opportunity to explore a sale that could support OCCU’s future workplace vision. 

“As we looked at where OCCU is headed and what Costco was trying to solve next door, it became clear there was a real opportunity here. We can create a workplace that better fits our future while also helping address a challenge our community has been navigating for a long time.” 

– Greg Schumacher, Oregon Community Credit Union, President and CEO

The agreement with Costco would support a careful transition for OCCU while creating near-term community benefit through additional parking and a path to longer-term traffic and access improvements. Under the letter of intent, OCCU will remain at its current headquarters during a multi-year transition period, giving the credit union time to identify and prepare its next location. If a final, binding sale agreement is reached and a transaction is thereafter completed, Costco would receive early access to designated portions of the property for additional parking in a way that does not disrupt OCCU’s operations.  

“One of the things I appreciate about this opportunity is that the community benefit can begin before OCCU moves,” said Schumacher. “We can keep serving our members and supporting our employees from this location while making additional parking available and giving Costco a path to work on longer-term traffic and access improvements once we relocate.” 

The sale is not yet final and will move forward only after OCCU and Costco complete a purchase and sale agreement and related steps. Schumacher said the careful, intentional approach reflects how OCCU is managing each part of its workforce transformation. 

“All of this is connected,” said Schumacher. “Our workplace strategy, our investment in technology, and our performance culture are all about building a stronger OCCU. If we can create a better experience for employees, use our resources wisely, support our community, and deliver something truly different for members, that is worth being bold about.”

It reflects a leadership philosophy Schumacher introduced when he became CEO earlier this year: bold, not reckless – a commitment to innovation while maintaining sound risk management.  

“To me, being bold means being willing to challenge assumptions and try new things,” said Schumacher. “Not being reckless means we do that with discipline. We test, we listen, we learn, and then we keep moving forward. That is the approach we are taking here.” 

About OCCU 
OCCU is a not-for-profit financial cooperative with more than $3.5 billion in assets. The credit union was founded in Eugene, Oregon, in 1956 and remains headquartered there. OCCU has an expanding network of branches and digital tools to provide its more than 300,000 member-owners with a full suite of financial products and services.