OCCU is outgrowing its headquarters — by shrinking it.
The Eugene, Ore., credit union has signed a nonbinding agreement to sell its 53,000-square-foot headquarters to Costco while it remains largely remote.
Oregon Community Credit Union plans to sell its headquarters to Costco and eventually move into a smaller workplace, a shift that reflects how dramatically remote work has changed the needs of one of Oregon’s largest credit unions.
OCCU, which has more than $3.5 billion in assets and more than 300,000 members, said it recently signed a nonbinding letter of intent to sell its current headquarters property to Costco. The retailer is interested in the site, which sits on roughly 10 acres, to support its neighboring Eugene warehouse.
The sale is not final. OCCU and Costco must still complete a purchase and sale agreement and other steps before the transaction can proceed. If it does, OCCU said it expects to remain in its current headquarters for several years while it determines where and how to establish a smaller workplace.
The decision comes six years after OCCU moved most non-branch employees to remote work in 2020. That arrangement has continued, and the credit union now uses only about 40% of its 53,000-square-foot headquarters.
“The building has served OCCU well for 20 years, but it was designed for a different way of working,” Greg Schumacher, OCCU’s president and CEO, wrote in a letter posted on the credit union’s website this week.
Schumacher, who became CEO in May, said the goal was not to abandon a physical workplace but to create one designed around collaboration, connection and the needs of employees working in a largely remote environment.
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The proposed sale also illustrates a broader question facing organizations that expanded remote work during the pandemic: what to do with offices designed for a workforce that no longer uses them in the same way.
For OCCU, the answer is not simply to give up its headquarters and move on. Schumacher said the multiyear transition would allow the credit union to continue operating from its current location while planning a new workplace.
The arrangement could also provide a benefit to Costco and the surrounding community. OCCU said the retailer could use part of the property for additional parking during the transition.
OCCU has been operating from the existing headquarters for two decades. But the credit union’s workforce remains largely remote, making the current building substantially larger than its present needs.
The workplace decision is part of a broader effort under Schumacher, who has described his leadership approach as “Bold, Not Reckless.” He said the philosophy calls for innovation while maintaining sound risk management.
OCCU is also focusing on technology and artificial intelligence, strengthening its performance culture and changing the employee experience, Schumacher wrote. The workplace strategy, he said, is connected to those efforts: The credit union wants to use its resources more deliberately while creating an environment that supports employees and, ultimately, its members.
“Being bold means being willing to challenge assumptions and try new things,” Schumacher wrote. “Not being reckless means doing so with discipline.”
The proposed headquarters sale comes as OCCU continues to grow financially. The credit union earned $16 million in the first six months of 2026, compared with $14.7 million during the same period a year earlier, according to NCUA call report data.
OCCU was founded in 1956. Schumacher joined the organization in 2013 and held several senior leadership positions before becoming CEO.
For now, little will change physically at OCCU’s Eugene headquarters. The proposed transaction is still subject to further agreements, and the credit union expects any move to take years rather than months.
That extended timeline is deliberate, Schumacher said. It gives OCCU time to determine what its next workplace should look like rather than simply replacing one building with another.
“This moment is about much more than a building. It is about being intentional with our resources, creating the right workplace for the organization we are becoming and building a stronger OCCU equipped to serve members, support employees and enrich lives for years to come.”
– Greg Schumacher
President & CEO
OCCU
Ken McCarthy is manager of marketing communications at Tyfone, where he monitors the credit union industry and contributes to conversations shaping its future. He previously covered credit unions and community banking for American Banker and S&P Global Market Intelligence. He holds a journalism degree from Point Park University and has more than 15 years of experience covering financial services. He is also the author of three literary fiction novels.
