These are exciting times for ACA International and its members.There is much to reflect on: the announcement of CFPB Director Richard Cordray’s resignation, invocation of the Congressional Review Act to stop the imprudent CFPB Arbitration Rule, and the Board of Directors’ search for ACA’s next CEO. Today, I call your attention to an exciting potential opportunity for ACA International.
ACA has been approached with an unsolicited offer to purchase the property in Minnesota that has served as the association’s headquarters for almost 50 years. The area surrounding ACA’s property has experienced tremendous growth and revitalization in recent years, and a commercial developer has expressed interest in obtaining the entire block upon which the property sits for further development.
ACA has been engaged in diligent and thoughtful consideration of the economic impact of accepting the offer. A transaction will be finalized only if it is in the best interests of ACA’s members. In the event of a property ownership transfer, disruptions to Minnesota operations will be kept to a minimum and ACA’s team will continue to provide excellent member service. It is the Board’s intent to remain in the Minneapolis area.
Specific details regarding the potential transaction must remain confidential during this review and negotiation phase, and there are no guarantees that the offer will remain open for any period of certainty. I will provide the membership with an update in the future as discussions develop.
The thought of leaving the comfort of home base may prompt feelings of apprehension. Your Board views the possibility as a step onward and upward toward future success. This offer creates an opportunity for ACA to consider a cost-effective modernization of our facilities, and to ensure those resources are dedicated to ACA’s mission of serving our members and the industry. We are confident you will share our sentiment of gratitude for the chance to explore new ways to improve ACA’s member experience.