Pending approvals from local and regulatory authorities, Leominster Credit Union will construct a 31,000-square-foot, 3-story building adjacent to their existing headquarters at 20 Adams St. in Leominster.

The new structure will feature a 2-story atrium and elevated walkway connecting to LCU’s current headquarters, the credit union said.

When final approvals are received, demolition of an existing building at the corner of Adams and Union streets will commence immediately, with new construction scheduled to begin next spring. Project completion is targeted for late 2009 or early 2010.