The City of Martinez is excited to announce the purchase of the historic Bank of Martinez building (a.k.a. Union Bank building) located in downtown at 634 Ferry Street. The building has been purchased by the Cooperative Center Federal Credit Union (“Cooperative Center FCU”) and will serve as the Credit Union’s loan center and headquarters.
“This is an exciting day for our City because are we getting a new tenant with 20 full-time employees taking over a vacant building, which will add to the vibrancy of downtown and provide an economic boost to our businesses,” said Mayor Rob Schroder. “We are also welcoming a community and civic-minded organization with a rich tradition of providing socially responsible banking services to individuals who may not be able to otherwise receive loans at reasonable terms from larger banks.”
In addition to the emerging downtown Martinez renaissance, the history and architectural character of the structure also appealed to Cooperative Center FCU. To preserve the authenticity of the building, the Credit Union plans to display historic artifacts in the lobby, including signs and plaques with the B.M. (“Bank of Martinez”) logo. The marble floor will also be preserved and the front plates of the historic security deposit boxes will be refurbished and transformed into an art installation.
Cooperative Center FCU hopes to complete its renovations and begin occupying the building by February, 2021. Residents looking for personal, home, and auto loans will now have an additional resource in downtown Martinez.