American 1 Credit Union Enters into Unique Partnership With Jackson County
2:04 PM, Nov 9, 2018
Jackson, Mich. - American 1 Credit Union announced in 2016 our plan to explore a Public–Private Partnership with Jackson County to assist with the construction of a new Event/Convention Center at the Jackson County Fairgrounds. After two years of careful study, a plan was developed by the County, led by experts in the Parks Department. We are pleased to announce to our members that American 1 will provide a four million dollar gift to Jackson County for the construction of a new Event Center.
Martha Fuerstenau, President/CEO of American 1, observed that “The outcome is far better than anything we could have imagined in 2016. The plan for an urban park, including a new American 1 Event Center, will be accessible to citizens and visitors 365 days a year. We are pleased that our commitment created a domino effect that resulted in a fantastic master plan, which includes a multi-faceted park for our community.”
The new American 1 Credit Union Event Center will be an affordable, flexible space appropriate for corporate, community, and family meetings, weddings and events. It will be ideal for small intimate gatherings, and be able to accommodate up to 500 seated guests. The building will feature a full catering kitchen to enhance the food service experience.
“The four million dollar gift from American 1 has been transformational. It served as a catalyst for additional funding from other sources. The vision has grown from a limited use fairground, into a green space where the public can gather and play,” stated Jeff Hovarter, Director of Jackson County Parks. Hovarter continued, “When you add this funding to the overwhelming support that voters gave when they passed the Parks Millage in August, you start to grasp the wonderful things that will begin to happen very soon.“
Gifts of this kind, which have long-term agreements associated with them, can be expensed over many years, according to the rules of accounting that Credit Unions are required to follow. While the benefit to our community will be immediate, the effect of this gift on the bottom line of the credit union will be spread out over a significant length of time.
Fuerstenau shared, “We believe we have a responsibility to our members and our communities – and certainly to our home community of Jackson – to contribute to important improvements that will make a lasting difference for generations. Economic development of this kind attracts visitors and new residents. Beautiful green space, where people can gather to enjoy walking and a bike path, and perhaps a river walk, along with indoor space for large and small events, is a resource we don't currently have. We are delighted to be involved in bringing this space to the community that has been a great home to American 1 for sixty-eight years.”