More and more people are turning to national and global banks and quickly growing fintech companies for loans and banking services. Growth in banking services, for Iowans, appears to be an important issue for locality, trust, and good business.

Corda Credit Union, based in Cedar Rapids with locations in Linn County, has made its first steps into Johnson County with a groundbreaking ceremony Tuesday. The 5,046-square-foot facility is set to open in late 2025 in Solomon’s Landing in North Liberty.

Credit unions are distinct from regular banks; they are cooperatively owned, meaning members of the bank are also owners.

In a press release issued by Corda following the ceremony, Corda President and CEO Paula O’Rourke said Corda is dedicated to fostering community and growth and is excited to begin building in North Liberty.

“Today is more than just the beginning of a construction project,” O’Rourke said. “It signifies our commitment to this vibrant and growing community. North Liberty is full of potential and possesses a spirit of cooperation and optimism that resonates deeply with Corda’s values.”

Corda Credit Union has seen steady growth in Linn County and now in Johnson, with steadily growing assets year-to-year and over 26,000 members.

Development continues in North Liberty, and O’Rourke said in the release that she is looking forward to contributing to that growth.

“We’re excited to work together to make North Liberty an exceptional place to live, work, and thrive,” she said.

In attendance were representatives of Greater Iowa City, who look at events like these as ways to endorse new business and economic development.

RELATED: North Liberty Community Pantry hosts groundbreaking event

Greater Iowa City Director of Marketing and Communications Jesse Wallace said the new branch will help create more development and business.

“As always, we support local business, growth, and prosperity in JoCo, and this bank is another example of creating jobs and adding to the community,” he said.

Credit unions keep their customers local, a valuable asset now more available in Johnson County, said Senior Vice President of Government Affairs for the Iowa Credit Union League Justin Hupfer. The Iowa Credit Union League is based in Des Moines and provides training, education, and support for Iowa credit unions.

“Specifically, consumers in the community have more choice,” Hupfer said. “Iowans like local credit unions are locally owned, and we’re that by definition because we’re owned by customers.”

Hupfer also said that various companies are rising nationally and globally, making banking a global task. He said expansions in local banks and credit unions benefit the nearby community and are preferred by many Iowans.

“In the day and age when everything is on the phone, and everyone is competing nationally and globally, we think it is good for Iowans to have the option to bank locally,” he said.