Security Service seeking city, county support for new San Antonio HQ development

Security Service Federal Credit Union is looking to add 200 new jobs in San Antonio and retain another 747 full-time positions as part of a plan to develop a new headquarters facility in the Alamo City.

The city of San Antonio and Bexar County are now working to finalize incentive agreements with Security Service in an effort to help bring the new headquarters project to fruition.

San Antonio-based Security Service, one of the largest credit unions in the U.S., owns 66 acres of real estate at 14880 Interstate Highway 10 West near UTSA Boulevard. Initial plans for the site include a new 250,000-square-foot campus to include office and operations space, as well as a parking structure.

Security Service officials say the development will accommodate the credit union's short- and midterm needs, as well as provide expansion space for additional growth. The company plans to begin construction on the new corporate campus in early 2015.

John Worthington, executive vice president of Security Service Federal Credit Union, said late Friday that the plan is to consolidate all of the credit union's operations throughout the city into one location. The credit union is looking to sell the current headquarters building if the credit union can line up the right buyer.

Security Service also intends to relocate employees from its leased office space at Eilan, University Park and its old headquarters off U.S. Highway 90 to the new campus.

The City Council plans to vote Dec. 11 on an incentive package in support of Security Service's planned new headquarters project. The proposed incentive package includes $4 million in tax abatements and a five-year grant worth $1.2 million to reimburse the company for public improvements, said Rene Dominguez, director of economic development for the city.

W. Scott Bailey covers health care, tourism, sports business, economic development; he also plans and edits some special reports.