One of the area’s oldest financial institutions is preparing for the future with plans to move its headquarters from Albemarle’s central urban area to one emerging in the south.
In 2026, the UVA Community Credit Union will move from 3300 Berkmar Dr. to a large six-acre tract at 1201 Fifth St. SW at Interstate 64’s Exit 120.
“To ensure handicap accessibility, we’ll be demolishing the existing building and constructing a modern Jeffersonian-style structure, with occupancy targeted for summer 2026,” reads the 2023 annual report for the Credit Union.
Founded in 1954 with service restricted to employees of the UVA hospital, the Credit Union has steadily expanded. In 2021, a charter update spread its potential membership to Lynchburg in the south and to Harrisonburg in the north. The expansion paid off: The Credit Union welcomed more than 80,000 new customers in 2023.
The Credit Union bought the six-acre property in October 2021 for $8.9 million from the Christian Aid Mission, which has since moved its headquarters to 1807 Seminole Trail. The existing building was constructed in 1986 to be the headquarters of Virginia Power’s western division. Christian Aid bought the property in September 1997 for $3.6 million.
The Credit Union recently sold the building that contains their branch on Arlington Boulevard as well as two other properties for $10.5 million. The purchaser is the University of Virginia Foundation, which tends to continue to rent to existing businesses until it’s time for UVA to use the property. None of their other branches are currently listed for sale.
The northern portion of the property abuts Moores Creek and serves as part of the route for the Rivanna Trail.
The Credit Union plans to demolish the existing building and construct a new two-story structure with almost the same footprint as the present one with 41,086 commercial square feet. The Albemarle Architectural Review Board will take a look at the plans in the near future.
This section of Albemarle County has been steadily growing with the opening of 5th Street Station in late 2016 after being rezoned for commercial development in March 2008. Since then, traffic volumes have increased and there are several transportation projects in the works. One of them could be the conversion of Exit 120 into a diverging diamond. Albemarle Supervisors endorsed that plan last week.
While there are no residential units associated with this project, Albemarle classifies this area as Neighborhood 5, one of Albemarle’s designated growth areas. There are 1,453 dwelling units approved but not built as of April 1. Most of those units are in the Southwood Mobile Home about a mile to the south down Fifth Street Extended.