A view of Orion’s new headquarters in the Edge District. Photo courtesy: Orion Federal Credit Union.
Orion Federal Credit Union is bringing its nearly 150 employees to a new headquarters in the Edge District, right below that colorful Wonder Bread sign.
The company is now moving from its current location near the Woflchase area on Highway 64. The company conducted a citywide site search and chose the Edge District location “to address long-term blight and drive economic development in Memphis,” according to a news statement.
“When considering a new location for our headquarters, we saw an opportunity to benefit Memphis and the communities we serve,” said Orion CEO, Daniel Weickenand. “A strong city core can create a ripple effect for development and energy throughout the region.”
The Memphis Area Teachers Credit Union changed its name to Orion in 2011. The company picked the Edge location in 2017. Since then, many other companies have announced development plans there, too.
“It’s exciting to watch this kind of development progress because it spurs others like it,” Memphis Mayor Jim Strickland said in a statement. “I remember driving through this area prior to construction, and to see it now with everything else going up around it is proof of that.”
The Wonder Bread building was built in 1921, and its sign is a minor Memphis icon. While the building has been updated with secure and modern specifications by arhictects Looney Ricks Kiss, the sign remains in place and has been restored with updated lighting.
The Wonder Bread factory has been vacant since 2013, making the stretch of Monroe Avenue near the building and several surrounding properties an eyesore visible from high-traffic areas like Downtown Memphis and Sun Studios. Instead of tearing down the factory and leveling the block, Orion chose to keep the original shape and bones of the building and add a third story. A new, period-appropriate exterior façade is made of reclaimed bricks from the original structure.
“We see Orion’s move into Downtown Memphis as more than an obvious sign of their commitment to our city,” said Jennifer Oswalt, president and CEO of the Downtown Memphis Commission. “We also see it as a signal to others that Orion — this progressive, forward-thinking enterprise — sees real value in being in the Edge neighborhood of Downtown."
The historic “Cadillac Building” adjacent to the Wonder Bread site at the corner of Danny Thomas and Monroe will also stay in place, with renovations planned in the future for the building and parking lot that serve as the entry to the Edge District.
Orion was founded in Memphis in 1957 and now has more than 72,000 members and $880 million in assets.
