Arlington Heights credit union serving educators moving across town

An Arlington Heights-based credit union serving Northwest suburban school district employees and their families will be relocating to a larger, more prominent location in town.

The Arlington Area Education Community Credit Union plans to move early next year to 1104 S. Arlington Heights Road, occupying a one-story, 4,508-square-foot building that was formerly a branch location for First Midwest Bank.

At a village board meeting Monday night, the credit union cleared a legal hurdle that will allow it to move to the new location from its current office building suite at 115 S. Wilke Road.

"I was disappointed when First Midwest decided to close. I'm pleased you stepped forward," Trustee John Scaletta told credit union officials Monday. "It would be a shame to see such a well-designed building on the south side of Arlington Heights to remain vacant for too long."

A 2007 land use variation allowed The People's Bank of Arlington Heights - which later merged with First Midwest Bank - to operate a drive-through on site, but that condition applied only to those banks. The village board Monday voted 8-0 to grant the credit union's request to remove that condition, paving the way for the nonprofit firm to complete its purchase of the property and move its operations there.

"We were growing and looking to expand, and were so excited when we saw this property become available because we wanted to be able to stay in Arlington Heights," said Jill Lindsay, president of the credit union.

Lindsay said the new location was attractive because of its drive-through, ATM and safe deposit boxes.

The credit union was founded in 1955 to serve employees of Districts 214, 21, 23, 25, 26, 57, 59, the Northwest Suburban Special Education Organization, Harper College, and their families. The union offers its customers checking and savings accounts and loans, but recently received state approval to expand its charter to offer services to the community at large, Lindsay said.

Some patrons of First Midwest Bank asked if they could keep their safe deposit boxes there, so the new state approval will allow that to happen, she said.

No building or site modifications are planned, but some additional landscaping is proposed.