DULUTH, Minn.--(BUSINESS WIRE)--maurices announced today that it has secured a tenant for its new maurices Headquarters building, located at 425 West Superior Street in downtown Duluth. Minnesota Power Employees Credit Union (MPECU) will open a new full-service branch in downtown Duluth and will occupy 6,000 square-feet.
The new maurices headquarters is on track to open on April 25, 2016, to provide a new home for its 450 corporate office employees located in Duluth. While the majority of the building is dedicated to maurices operations, three locations were available for lease. MPECU will occupy the eastern corner location and discussions are underway with additional tenants.
“Minnesota Power Employees Credit Union is a great fit for our new headquarters and will offer many benefits to our associates, including convenient access to financial services and classes,” says George Goldfarb, maurices president and CEO.
Minnesota Power Employees Credit Union
MPECU is scheduled to open its new full-service branch in the maurices headquarters in June 2016 and will employ about 10-12 staff.
MPECU has more than 83 years of serving its member/owners and is a long standing member of the Duluth community. The credit union has more than 6,700 member/owners, including maurices, ascena retail group, inc., Minnesota Power Inc. and ALLETE Inc., along with 20 other Select Employee Groups. “MPECU is and has been a great employee benefit for the power company employees and their families for the past 83 years,” said Al Hodnik, CEO of ALLETE, Inc.
MPECU was founded on the credit union ideals of people working together cooperatively. The new branch will provide maurices and ascena retail group, inc. with convenient, efficient, high-quality financial services while maintaining competitive, fair rates and fiscal soundness.
The new branch will provide MPECU’s members at maurices and in downtown Duluth a convenient location to its high-quality financial services.
“MPECU is proud to have maurices and ascena employees as member/owners, and we are excited to serve their employees with accessible, face-to face member service as well as provide personal financial education,” said Deb Almirall, president and CEO MPECU.
maurices, located in downtown Duluth since 1931, is a subsidiary of ascena retail group, Inc. (NASDAQ – ASNA), which includes maurices, Catherines, dressbarn, Justice, Lane Bryant, Ann Taylor and LOFT. It’s the fashion store for women who embrace who they are and want to express their unique style. maurices, is a multi-channel retailer, currently operating 980 stores in 46 states and Canada.
The new maurices Headquarters, located at 425 West Superior Street, will be approximately 200,000 square-feet, stand 11 stories in height and span an entire city block. The new headquarters will allow for maurices’ continued growth.
The $80 million project is the largest downtown commercial development in Duluth’s history. Along with maurices’ $60-plus million investment, the City of Duluth and the Minnesota Department of Employment and Economic Development committed $20 million for the public parking ramp and skywalk infrastructure through a matching grant program.
maurices has been headquartered in downtown Duluth since 1931 and currently occupies space in three-plus buildings. One of the buildings is being donated to the University of Minnesota, Duluth and discussions are in process for the other two buildings.
MPECU is celebrating its 83rd year in business. During its first 61 years, it served solely the employees and family members of Minnesota Power. Minnesota Power Employees Credit Union has been proudly serving its field of membership which includes employees and families of ALLETE INC., Minnesota Power Inc., Superior Water Light & Power, BNI Coal, ALLETE Properties, ALLETE Clean Energy, ALLETE Investors (minimum of 5 shares of ALLETE, Inc. stock required), CenturyLink, AT&T, LHB , Cirrus, Stewart-Taylor Printing, Physio-Control Data Solutions, Duluth News Tribune, Enbridge (US) Inc., Consolidated Communications (formally known as Enventis), CW Technology, maurices, COMO Oil & Propane, A. H. Zeppa Family Foundation and Zeitgeist Arts. MPECU strives to provide its member/owners with convenient, efficient, high-quality financial service while maintaining competitive, fair rates and fiscal soundness. For more information, go to www.mpecu.com