Have you been wondering who bought and began renovations to the former TD Bank building in downtown Cranbrook?

The East Kootenay Credit Union (EKCCU) has announced their purchase of the building which is now undergoing renovations. The lower level will be available for rental soon and the upper floor of the building will provide office space for EKCCU administrative staff.

“Over the last five years, East Kootenay Community Credit Union has experienced record growth at our Cranbrook and Elk Valley locations. This growth resulted in new positions and we have run out of space,” said EKCCU CEO Jody Burk.

According to Burk, a number of other factors also contributed to the decision to purchase the building. “When we looked at price, the location and the quality of the construction, the purchase of this building just made sense," he said. "We believe in keeping a vital downtown core in Cranbrook and purchasing this building fit in with our vision and long term approach to growing EKCCU and serving our community.”

EKCCU acknowledged that recent economic times have been difficult for many in the community.

“We are in the middle of a major economic downturn and Cranbrook has been greatly impacted by it,” saod Burk. “Our funding is our members’ money and so it’s important that we be prudent with our investments at this time. This building, in a prime downtown Cranbrook location, will not only provide much needed office space for EKCCU, but will create space and opportunity for entrepreneurs and new commercial ventures. We have also been pleased to hire local contractors to undertake the renovations.”

“We believe that by next fall and winter our local economy will begin to turn around," continued Burk. "The decision to purchase this building, which will tie into our new brand being launched in December, will well position EKCCU as the financial institution of choice in our communities.”

Anyone interested in the commercial space which will be available for rental can contact Andy Aichholz at 250-426-6666.