La Capitol Federal Credit Union has purchased a 1.03-acre site on Siegen Lane and plans to open a branch on the property.

The credit union paid $870,000 for the land, which is next to Walgreens, near the intersection with Perkins Road. The real estate arm of First Bank and Trust, a New Orleans-based financial institution, was the seller.

La Capitol officials said the plan is to have a new branch on the site by September 2014.

La Capitol has four Baton Rouge branches, including one on Siegen, just north of Interstate 10 in the Siegen Village Shopping Center. The new Siegen branch will replace that location.