Baton Rouge Telco Federal Credit Union has purchased a plot of land on Goodwood Boulevard for $1.2 million with plans to build a new location.
Telco President and CEO Darryl K. Long says the new 10,000-square-foot location will replace the firm’s branch on Wooddale Boulevard in north Baton Rouge, which opened in 1987. The company has since opened up three more branches: One on Airline Highway, one in Hammond and, most recently, a location in Watson that opened in 2011.
“We’re just moving three miles away,” Long says. “We certainly value and want to keep serving the same clientele. An updated, modern office is what we’re after.”
The nearly 4-acre plot of land is located on Goodwood Boulevard next to the Baton Rouge Water Company. The seller was Saint Luke’s Episcopal Church and School, which previously had plans for a high school expansion on the land but decided to focus on its K-8 program, according to David Trusty, of Coldwell Banker Commercial One. Trusty and David Palmer, both members of the church, represented the seller. Ricky Hill and Richard Daviet of Latter & Blum represented the buyer.
Telco, which had $292,901,402 in assets according to the latest federal data, services the nine-parish Capital Region and Tangipahoa Parish. It opened in the 1930s to service telephone company employees, Long says. The new location should be complete by the end of next year.
