Indiana Members Credit Union (IMCU) is one of the largest credit unions in Indiana. Through a previous relationship with RESOURCE, they engaged Reller and MacDougall to facilitate identifying branch possibilities for a new branch to be constructed in Carmel.
“Ross and John probably saved us several months and a lot of money by listening to our goals and objectives and not focusing solely on our desire to find a piece of land to build a branch.”
- John Newett, SVP, Indiana Members Credit Union
Through their meetings with IMCU executives they encouraged involvement of the bank’s branch and marketing executives. During these fact-finding meetings Reller and MacDougall learned of the importance of proximity to hospitals, because many of their employees are customers. Reller and MacDougall focused on understanding site opportunities that might exist in close proximity to the major health care facilities in the community. Following an exhaustive study period they completed a report with half a dozen great sites in the Old Meridian corridor. These sites each met the client’s specific site size parameters. On the morning of the tour with bank executives Reller realized there was a vacant building within the study area that had not been included. They hurriedly made arrangements with representatives of the building owner to tour the facility, knowing it was too large but needed to be included nonetheless. During the building tour, bank executives were impressed with the property but agreed to complete the tour of all competing sites. Attracted by the time savings associated with existing construction, the client creatively put to use the extra-large foot print of the two floors and agreed the building could be their new service center, accelerating by nearly a year plans to modernize a major component of their service delivery platform. Faced with municipal timeframes to obtain site plan approvals for the mandatory drive thru lanes required, RESOURCE arranged for meetings with municipal officials to determine the next steps.
Following favorable preliminary meetings with the Seller, their representatives and officials from the city, IMCU and RESOURCE negotiated favorable terms and conditions for acquiring the property. Following lengthy negotiations with the city on all matters pertaining to site plan approval, including revised building signage and architecture review, IMCU still needed approvals from a neighbor in order to proceed. RESOURCE coordinated several meetings with the neighbor and negotiated for the successful acquisition of their property on a pro-bono basis to achieve a “win-win” for all concerned.
Note: We have several professionals with substantial client transactional experience prior to joining RESOURCE Commercial, which is included above.