The Alaska State Employees Federal Credit Union plans to build a new facility in Vintage Park next to the Mendenhall post office.
"Our members have requested a Valley location for years," said Sharon Kelly, CEO of the ASEFCU.
Groundbreaking for the 14,000-square-foot building will take place mid-summer, and Kelly hopes the building will be completed by the end of next year.
The credit union is in the process of choosing a contractor for the project, and hopes to have chosen one by Dec. 31, Kelly said.
"It's going to be a major investment in the community," she said.
The new building will be the headquarters for the credit union, as well as a branch with a drive-up facility.