SAC Federal Credit Union held a groundbreaking ceremony this week for a $20 million, four-story headquarters it is building in Papillion just east of Shadow Lake Towne Center.

The new building will move SAC Federal's headquarters out of Bellevue, where it has been since 1948, when it came to Nebraska from Andrews Air Force Base in Maryland along with the U.S. Air Force's Strategic Air Command.

SAC Federal has 19 offices and members from eight metro area counties. The credit union has grown from $294 million in assets in 2006 to more than $575 million.

SAC Federal purchased five acres of land from a private owner and five acres from the City of Papillion.

The new 90,000-square-foot building, when completed in 2014, will have a first-floor branch office, a community meeting room and space for 150 employees.


Papillion Mayor David Black said he welcomes the jobs and the daytime traffic the new headquarters will bring to Shadow Lake. He expects the project to attract additional development to the area.