TICONDEROGA Its official, a credit union is on the way to Elizabethtown.
The Ticonderoga Federal Credit Union (TFCU) has announced plans to open a new, full service branch in Elizabethtown.
According to credit union officials, the TFCU Elizabethtown branch will be located at 7519 Court St., just north of the Essex County Mental Health Center and south of Marvins Funeral Home.
The property was purchased from Barkley and Sons LLC for $250,000, although the TFCU paid an additional amount to have the buildings currently on the property torn down. Closing was tentatively scheduled for Aug. 23.
We have been researching the Elizabethtown real estate market for well over two years, said Gregory Johnson, CEO of TFCU. I want to particularly thank Supervisor (Noel) Merrihew, who is largely responsible for our successfully achieving this next step in TFCUs growth. He continues to be an indispensable, proactive advocate, and was instrumental in helping us as we sought to find just the right property; one that would allow us to construct a branch with the amenities required to provide the high level of service for which credit unions are known. We are looking forward to being part of this vibrant community.
Construction plans are not yet complete, but the new branch will offer full service deposit and lending services including state-of-the art technology, a 24-Hour ATM, and drive-thru. Construction is expected to begin in the spring of 2008.
There has been a tremendous amount of public interest and anticipation regarding the credit union adding a branch here, said Merrihew.
Along with serving Elizabethtown-region residents, Merrihew said it will help out other businesses.
Elizabethtown has a large workforce that includes employees at the County Government Center and the Elizabethtown Community Hospital. This much-needed resource is sure to complement the existing business infrastructure that the town offers - and this announcement will definitely meet with a very positive reception from the entire community, said Merrihew.
The TFCU operates its main office in Ticonderoga, where it was chartered in 1954 as the International Paper Ticonderoga Mills employee credit union. Since then it has amended its charter twice.
Credit unions serve groups that share something in common, such as where they work or live, said TFCU Marketing Director Kimberly Rielly. TFCU has a community charter, and our field of membership now includes those who live, work, or worship in all of Essex and Washington counties and beyond.
Rielly explained that TFCU offers a suite of products that mirror the types found at traditional banks: savings, a variety of loans, IRAs, share certificates (CDs), VISA credit cards, and more. As a not-for-profit, though, earnings are returned to members in the form of lower loan rates, higher returns on deposits, and lower fees.
Credit unions are well known for their outstanding member service and proactive community involvement. Were looking forward to increased participation in the organizations and events that are part of Elizabethtowns community, said Rielly.
The TFCU opened its first branch in March 2007 in Port Henry, and currently operates four ATMs located in Ticonderoga, Port Henry and Schroon Lake. They have long been considering additional branch locations in order to better serve their existing and potential membership.
For more information about the Ticonderoga Federal Credit Union, individuals are encouraged to visit their website, www.tfcunow.com , the Ticonderoga or Port Henry locations in person, or to call 585-6725.