Corda Credit Union recently celebrated the grand opening of its North Liberty location at 1265 Hayes Lane, its first branch outside of Linn County.
“North Liberty is full of potential and possesses a spirit of cooperation and optimism that resonates deeply with Corda’s values,” Corda CEO Paula O’Rourke said on Tuesday, addressing the attendees gathered for the ribbon cutting. “This new branch has created local jobs, stimulates the local economic growth and supports our community initiatives.”
Corda’s grand opening kicked off a three-day celebration. To commemorate the new location, the credit union is holding prize drawings, giveaways, community activities and a grill out from Sept. 10 to 13. Guests will vote for favorite nonprofits, with Corda donating $1,500 to the top choice and $500 to each of the others.
Founded in 1935 as the Cedar Rapids Teachers’ Credit Union, the financial institution began when 11 teachers pooled $5 each to lend to colleagues.
The credit union changed its name to Linn Area Credit Union in 1982. The name changed to Corda Credit Union in May 2024, a strategic shift that reflected the financial institution’s campaign to expand its reach. Officials said the previous name was “geographically limiting” and created “confusion over membership eligibility.”
“Corda” is the Latin word for “hearts,” and the new name was intended to reflect the financial institution’s commitment to its members and communities, according to the financial institution’s officials.
Today, the credit union’s charter covers a 22-county region in Eastern Iowa, has 26,000 members and five locations across Cedar Rapids, Marion and North Liberty.
Ahead of its North Liberty opening, the credit union made inroads with pledges and partnerships with local nonprofits. In June, it partnered with Murray Elite Basketball to secure naming rights of its upcoming athletic facility. The following month, it pledged to contribute $100,000 over five years to the North Liberty Community Pantry.
“We are committed to investing in programs that lift up and empower our neighbors,” Ms. O’Rourke said.
Sharing the podium was John Lang, vice president of Graham Construction Company’s Eastern Iowa division, and Mackensie Graham, founder of Ampersand Legal and ambassador with Greater Iowa City, Inc.
Mr. Lang called the new building “a welcoming modern space” and Ms. Graham praised the credit union’s dedication to the community.
“Corda’s investment here also strengthens the fabric of our business community, reinforces values of trust, connection and collaboration that make our region thrive,” she said.
Corda Credit Union is open Monday, Tuesday, Wednesday and Friday from 9 a.m. to 5 p.m.; Thursday from 10:30 a.m. to 5 p.m. and Saturday from 9 a.m. to noon. The credit union is closed on Sundays.
