2101 South Jefferson
In 2001, DeSales took a big gamble on behalf of its community when it decided to purchase a vacant commercial property with no firm reuse plan. The property at Jefferson and Russell had been vacant since a Taco Bell restaurant closed in 1999. Because of its prominent location at a key entryway into the Fox Park neighborhood, DeSales felt it was critical to find a good reuse for the property.
Soon after acquiring the property, the organization learned that Anheuser Busch Employees’ Credit Union was looking for a location to open a new division to serve the 63104 zip code. Thomas Pickel, Executive Director, contacted the credit union, and thus began over six months of meetings, negotiations and fundraising. DeSales and the credit union signed a lease agreement in January 2002.
American Eagle Credit Union has enhanced the quality of life in Fox Park and nearby neighborhoods by giving residents an opportunity to bank near their homes. It is the only full service financial institution in the 63104 zip code. The opening of the credit union has also helped to spur improvement of other properties on Jefferson.
Critical to this effort was a Community Development Corporation Grant that DeSales applied for and received from the Missouri Department of Economic Development. The project also received a loan from the St. Louis Local Development Company thanks to the support of Alderwoman Phyllis Young.