Corda Credit Union to Expand to North Liberty

July 19, 2024

CEDAR RAPIDS, IA, July 18, 2024 – Corda Credit Union has announced its expansion to North Liberty with a branch slated to open in late 2025.

Designed by Solum Lang Architects, LLC, of Cedar Rapids, the North Liberty branch will be located on approximately one acre in the Solomon’s Landing development, on the north side of West Penn Street, west of North Jones Boulevard. The 5,046 square-foot facility will include drive-through lanes, as well as ATM/ITMs.

“We couldn’t be more thrilled with the location. We feel like it’s the perfect spot for our new branch,” said Paula O’Rourke, President and CEO of Corda Credit Union. “The branch will be easy to access, no matter if you’re driving, biking, or walking, and it’s surrounded by several businesses that have a broad appeal to area residents.”

The credit union has been growing steadily over the years, ending 2023 with nearly $670 million in total assets, an increase of 8% from 2022’s year-end total of $620 million in assets. Its membership charter encompasses anyone who lives or works in 22 Iowa counties: Benton, Black Hawk, Bremer, Buchanan, Cedar, Clayton, Clinton, Delaware, Dubuque, Fayette, Iowa, Jackson, Johnson, Jones, Keokuk, Linn, Louisa, Muscatine, Poweshiek, Scott, Tama and Washington. It also includes anyone related to a member. Ranked by Forbes in 2024 as the fourth best credit union in Iowa, the credit union has nearly 26,000 members.

The North Liberty expansion will be Corda Credit Union’s first location outside of Linn County. The credit union currently has three branches in Cedar Rapids and one in Marion.

Corda Credit Union was founded in 1935 by 11 teachers who each put up $5 of their own money. It was known as Cedar Rapids Teachers’ Credit Union, and as the credit union extended its charter beyond the teaching profession, it changed its name to better reflect its membership, becoming Linn Area Credit Union in 1982.

As it continued to grow, being known as Linn Area Credit Union created misperceptions about membership eligibility. “Not everyone in our membership lives or works in Linn County,” said O’Rourke, “and the term ‘Linn Area’ wasn’t relevant to all of our members.”

As a result, Linn Area Credit Union’s Board of Directors and the management team made a unanimous decision to formally change the credit union’s name. The member-owned financial co-op officially became Corda Credit Union in May 2024.

“‘Corda’ is the Latin word for hearts, and it’s fitting for a credit union that wears its heart on rolled-up sleeves, as we strive every day to serve our members and communities with both compassion and expertise,” said O’Rourke. “We invest our heart into everything we do.”

Corda Credit Union actively supports the communities it serves, both by contributing funds to local nonprofits and being a champion of volunteerism. The credit union has already pledged $100,000 to the North Liberty Community Pantry, which is in the process of constructing its own new facility, having outgrown its current space.

“We are very excited to support the North Liberty Community Pantry as it enters a new phase to fulfill its mission,” said O’Rourke. “We are deeply committed to serving our members and building up our communities, and we can’t wait to begin serving the North Liberty community.”

To learn more, visit www.cordacu.org.