WINSTON-SALEM, N.C.—Truliant Federal Credit Union it it has completed a sale-leaseback transaction covering its headquarters, operations center and four branch locations for nearly $90 million, according to several local media reports.
Under the agreement, the $5..2-billion Truliant said it will continue to occupy the facilities under a long-term lease while it seeks ways to redeploy the cash from the sale into growth initiatives.
Truliant said it will retain full occupancy of all of its spaces through a lease-back arrangement, giving it time to plan and build a new corporate campus.
“Sale-leaseback transactions are a strategic tool that enable institutions like ours to unlock capital without disrupting operations,” President and CEO Todd Hall said in a statement to local media.
How Funds Will be Used
Truliant FCU said it also plans to use the funds to:
- Speed investments in digital platforms and member experience
- Expand its commercial lending operations in the Carolinas and Virginia
In 2020, Truliant FCU began converting a former Macy’s department store in the Hanes Mall in Winston Salem into its operations center. It opened the facility in 2023 with approximately 250 employees, with the capacity to accommodate as many as 550.
