Northeast Credit Union to transform old Measured Progress site in Dover

DOVER — Northeast Credit Union unveiled plans for its new headquarters Thursday after buying the former Measured Progress building for $7.5 million last month.

The credit union, which was founded at Portsmouth Naval Shipyard in 1936, plans to reconstruct the existing 100,000-square-foot structure at 100 Education Way. The building will house the majority of the company's 400-plus employees.

Northeast Credit Union will move to Dover from 100 Borthwick Ave. in Portsmouth, its headquarters for decades. Company leaders estimated the Dover location will open in early 2025.

“(It’s) no secret, commercial real estate is not easy to come by in this part of the world,” said Chris Parker, chief executive officer and president of Northeast Credit Union. “Portsmouth certainly was considered and looked at. We found this space, and given that we’ve got a long history in Dover with our branch sitting a quarter mile away that does very well … it made sense. This is a growing, thriving community, and it is an important community to New Hampshire and to the Seacoast. We wanted to be a part of that.”

Strafford County deed records show that Reynolds Avenue South LLC sold the property to Northeast Credit Union on Sept. 5. Michael Kane, chief executive officer of the Kane Company in Portsmouth, is the principal of Reynolds Avenue South LLC.

Donna Benton, Dover's planning and community development director, previously said the current 100 Education Way building was last occupied by Cognia, which was a new name after a merger involving Measured Progress, an education company specializing in testing and accreditation.

What to expect from Northeast Credit Union's new home in Dover

Northeast Credit Union leaders were joined Thursday by development partners and city elected officials and staff Thursday to view design schemes of the new building coming to Dover. Stakeholders donned hard hats and took turns swinging at a wall with sledgehammers to mark the next chapter in the company’s history.

“We’ve known for a while that we wanted to start looking for an updated headquarters that could support all of our employees,” Parker said.

The company touted the new four-story facility, set to include employee training rooms, a cafeteria, a fitness center, outdoor spaces, car charging stations, and walking and biking trails on campus.

“The new design will also have a strong emphasis on incorporating natural elements and light, hybrid workstations, and an environment that fosters collaboration and creativity,” a company announcement states.

“This will be a very modern space with a lot of amenities,” Parker said.

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Construction firm Procon is the project architect and design-builder for the structure’s exterior work. Maugel DeStefano Architects in Portsmouth is charged with overseeing work to the interior.

“As you can see by the renderings, it’s going to have a completely fresh and new look with an abundance of modern glass and some real nice colors,” Procon chief executive officer John Stebbins said. “I’m really excited about these incredible outdoor spaces that the employees will get to enjoy. My favorite feature of the design is the huge open atrium, which will flood the middle of the building with natural light and warmly welcome employees and visitors.”

“This is a very large commitment and expense,” he added. “I think it’s going to pay dividends for your employees.”

Dover mayor offers praise for project, calls for support with local issues

Dover Mayor Bob Carrier’s father was a retired Portsmouth Naval Shipyard employee. When Carrier was entering high school, his father encouraged him to open a savings account with Northeast Credit Union. Years later, he is still a member of the credit union.

“Your growth is incredible. Your service is impeccable,” he said.

The company supports nonprofit agencies working to eliminate food insecurity, expanding access to affordable housing and supporting public education.

The mayor called upon the company to help the city and the region continue working toward increasing housing supply for workers and citizens throughout the region.

“You are a partner with us all. These are real (situations) in front of us (with) mental health, drug addiction, all of the above,” he said. “The city of Dover is going to be very happy to work with you in the future, for sure.”

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Northeast Credit Union has 18 branches in Maine and New Hampshire, including one in Dover that will be unaffected by the headquarters move. The company reports having over 142,000 members and over $2 billion in assets.

This article originally appeared on Fosters Daily Democrat: Northeast Credit Union to transform Dover NH site for new home