Kinecta Officially Opens Manhattan Beach Branch at Long-Vacant Lot
Jul 13, 2022 06:59PM ● By Mb News Staff
A ribbon-cutting on Wednesday marked the official opening of a Kinecta Federal Credit Union branch at the southeastern corner of Sepulveda and Manhattan Beach Blvd. The lot had been vacant for more than a dozen years.
The new Kinecta building will also house Ike's Love and Sandwiches, a Dunkin' branch, and a veterinary clinic.
“This development is the end of 15 years of vacancy and underutilization of this site, and what frankly had become an eyesore for the community. We’ve always been a local institution and deeply committed to investing where our members and employees live and work,” said Keith Sultemeier, President and Chief Executive Officer of Kinecta, in a statement. “We are grateful for the opportunity to serve the South Bay and Manhattan Beach at this new location. We wanted to create something the community can use and enjoy for many years to come and together with our partners and the City of Manhattan Beach, we believe that goal has been achieved.”
The building, designed by local architect Louie Tomaro, has a wing-like profile reminiscent of an airplane as a nod to Kinecta's origins as the Hughes Aircraft Employees Federal Credit Union.
In 2008, the city of Manhattan Beach had given approval for a Rite Aid to be built on that lot (technically, two lots), but the project never went forward. While a gas station on the property was demolished, a vacant two-story building on the site remained standing and became increasingly dilapidated.
In 2015, the city of Manhattan Beach accused Rite Aid of violating the city's "public nuisance" law and directed the company to address a variety of matters at the site, including signs of animal infestation, dry rot, graffiti, dilapidated fencing, and a "strong moldy, musty smell in the [former] liquor store."
In 2020, Kinecta subleased the property from Rite Aid.
The new Kinecta building will also house Ike's Love and Sandwiches, a Dunkin' branch, and a veterinary clinic.
“This development is the end of 15 years of vacancy and underutilization of this site, and what frankly had become an eyesore for the community. We’ve always been a local institution and deeply committed to investing where our members and employees live and work,” said Keith Sultemeier, President and Chief Executive Officer of Kinecta, in a statement. “We are grateful for the opportunity to serve the South Bay and Manhattan Beach at this new location. We wanted to create something the community can use and enjoy for many years to come and together with our partners and the City of Manhattan Beach, we believe that goal has been achieved.”
The building, designed by local architect Louie Tomaro, has a wing-like profile reminiscent of an airplane as a nod to Kinecta's origins as the Hughes Aircraft Employees Federal Credit Union.
The branch features sustainable and energy efficient materials as well
as advanced banking technology. In addition, it will be Kinecta's first
branch to provide private banking services.
A crowd of about 150 people gathered at Wednesday's ribbon-cutting to celebrate the opening with light bites and Dunkin' Donuts, music, and a raffle.
Property Had Sat Vacant for Years
In 2008, the city of Manhattan Beach had given approval for a Rite Aid to be built on that lot (technically, two lots), but the project never went forward. While a gas station on the property was demolished, a vacant two-story building on the site remained standing and became increasingly dilapidated.
In 2015, the city of Manhattan Beach accused Rite Aid of violating the city's "public nuisance" law and directed the company to address a variety of matters at the site, including signs of animal infestation, dry rot, graffiti, dilapidated fencing, and a "strong moldy, musty smell in the [former] liquor store."
In 2020, Kinecta subleased the property from Rite Aid.
Kinecta Federal Credit Union
Kinecta Federal Credit Union is the country's 35th largest credit
union, with assets of $6.6 billion and over 270,000 member-owners. Its
800+ employees serve members from 32 credit union-owned branches,
specialty offices, and call centers on both coasts. Banking in the
Southern California area for more than 80 years, with recent expansion
into New York, New Jersey, and Northern California, Kinecta offers its
members a full range of financial products through the
Credit Union and its subsidiaries, Kinecta Wealth Management and Kinecta Insurance Services.
Credit Union and its subsidiaries, Kinecta Wealth Management and Kinecta Insurance Services.
Kinecta
has been recognized by the Mortgage Bankers Association as a recipient
of its Diversity, Equity, and Inclusion (DEI) Residential Leadership
Award, and received the Best of Show award granted by the Credit Union
National Association (CUNA) Technology Council.
Kinecta
gives back through the Kinecta Community Foundation as well as serving
as the official financial services partner of the L.A. Galaxy, and as
sponsor of the Rochester Americans and Rochester Red Wings.
At the ribbon-cutting event, Kinecta presented a $1,000 check to the local nonprofit organization Chemocessories, which provides free jewelry, turbans, and head scarves to women undergoing cancer treatments.
Kinecta is also currently holding a backpack and school supply drive to assist children in under-served communities.
