Spokane Teachers Credit Union has purchased a vacant lot in south Spokane Valley, at 13211 E. 32nd, but says it has no plans to add a branch at the location anytime soon.

The Spokane-based credit union bought the property in December for about $450,000, from B.I.T.M. LLC, of Spokane, says spokeswoman Keely Barrett. The lot, zoned for retail uses, is located at the southeast corner of 32nd and Clinton Road, across from an Albertsons store.

Spokane Teachers bought property in Airway Heights last year, which it also has said is an investment for future growth.

"With both these properties, we took the opportunity to purchase them, as we know they are great locations for future expansion," Barrett says.

The credit union has about 78,000 members and 13 locations, including a branch it opened recently in Sandpoint, Idaho. It's building a new branch at Northtown Square, on Spokane's North Side, which it expects to open this spring.

Jeff McGougan, of NAI Black, represented STCU in the Spokane Valley transaction, and Mark McLees and Don Jamieson, also of NAI Black, represented the seller.