COTTAGE GROVE, Wis. -

Summit Credit Union is in negotiations to build its corporate headquarters in Cottage Grove, according to a release.

The proposed building, which would be on 11 acres at the southwest corner of County Road N and Interstate 94, would be about 130,000 square feet to accommodate around 250 staff members, officials said.

The preliminary plan includes underground parking for 90 vehicles and surface parking for another 400, according to the release.

“We are working with the Cottage Grove Planning Commission and other agencies and are optimistic about purchasing the land and fine-tuning our preliminary building plans,” Summit Credit Union CEO and President Kim Sponem said in the release.

Staff members from several credit union locations in Dane County would move to the new headquarters, according to the release.

Sponem said if the building is approved, it will be designed in 2017, built in 2018 and opened no later than 2020.