Orion Federal Credit Union issued a press release today announcing plans to move the company’s headquarters into the former Wonder Bread building on Monroe in the Edge District. The Flyer recently reported on proposed redevelopment of the site with retail, condos, and an unnamed “120-employee financial services firm,” which would seem to indicate negotiations may have already been underway at that time.
Orion’s announcement:
Daniel Weickenand, CEO of Orion Federal Credit Union (Memphis, Tenn.), announced today Orion is in negotiations to move their corporate headquarters to the Wonder Bread bakery building, located on Monroe Avenue.
Orion FCU, the largest credit union in west Tennessee, is moving to the Edge district in order to serve as a significant corporate resident in the resurgence of the Edge neighborhood and to be a connector between the medical district and downtown. The site consideration is contingent on several factors including parking and placement of Orion’s employees.
The move of the Orion headquarters from its current location at 7845 Hwy 64 is fueled by the company’s culture and focus on serving the Memphis community. Orion’s consideration in moving the headquarters to the Edge district is to address blight and impact economic development in Memphis.
“Orion has an opportunity to transition a visibly neglected neighborhood in Memphis. Development in the Edge district is a crucial link to the positive changes taking place downtown and in the medical district. Orion’s presence in this neighborhood will make an impact in our city,” stated Weickenand.
“We welcome Orion Federal Credit Union to the downtown core and feel this move will demonstrate to others that Memphis has momentum, and we are open for business,” stated Mayor Jim Strickland.
“Having the headquarters of a company like Orion in the Edge would provide a catalytic boost to the area for so many reasons. They are a great employer and corporate citizen. Orion provides good jobs which produce more residential and retail activity. Their presence will accelerate the positive change to help rapidly transform this area,” stated Gary Prosterman, President of Development Services Group.
Orion is committed to community. Orion appreciates the 60 years of support from their members and the Memphis community. Orion’s culture and intent is to pay that support forward and invest in a better Memphis. The Orion Gives Back program is another way the company is paying it forward. Each month Orion supports a Memphis based non-profit and Orion employees serve the organization’s mission through meaningful volunteer opportunities that impact the city. Orion employees are granted paid time off to volunteer in the neighborhoods it serves. Orion also adopts 10 schools in Shelby County and is present in those schools and neighborhoods near each of their 10 branches. It is that core belief of community mindedness that drives Orion’s intention to move the headquarters and be a catalyst in improving the city.
The Wonder Bread building was built in 1921 and has been vacant for several years. Orion’s renovation of the property has an expected completion in 2019.
