Leominster Credit Union (LCU) has received final approvals from the city of Leominster and the state Division of Banks to build a 3-story, 28,500-square-foot headquarters immediately adjacent to its current main office on Adams Street.

LCU President and CEO Gordon R. Edmonds said they’ve outgrown their current headquarters.

"With the new addition, we’ll remedy our space crunch, make for better workflow and provide better member service by centralizing our different departments and back office functions," Edmonds said.

The new headquarters’ main entrance will feature a 2-story atrium, while the existing office’s façade will be remodeled to match the exterior of the new building.

According to a press release, a contractor will be announced following the opening and review of any sealed bids received. Groundbreaking is expected to take place next month, with project completion targeted for early next year, credit union officials said.