FULTON — Construction crews have started work on a new branch for Compass Federal Credit Union (FCU) in Fulton and are expected to finish before the end of 2019.
“We’ll be in [the new office] by the end of the year,” says Thomas O’Toole, manager of Compass FCU. He spoke with CNYBJ on July 22.
The 3,200-square-foot building will be located at 208 N. 2nd Street in Fulton. The credit union held a groundbreaking ceremony for the upcoming location on June 25.
The new branch on North Second Street will replace the current Fulton location at the Canalview Mall. The credit union currently has seven branches.
Compass Federal Credit Union’s main office is located at 131 George St. in Oswego. The organization has a total of about 7,000 members, according to O’Toole.
The credit union grew in size after a merger between Oswego Heritage Credit Union and Compass FCU in 2016, according to O’Toole. Davis-Standard, a manufacturing company in Fulton, was the primary sponsor for Oswego Heritage.
“We’re trying to provide a little better service to Davis-Standard and the community of Fulton,” says O’Toole.
The upcoming Fulton branch is located near Davis-Standard, he adds.
O’Toole acknowledges that Compass FCU’s Canalview branch was in a “remote” area with no drive-up availability, drive-thru window, and no ATM.
“We’ve been there over 20 years at Canalview. A lot of the people in town don’t even know we’re there,” he adds.
The new one-level branch will include ATM and loan services, two drive-thru lanes, a coin machine, as well as a conference room available to the community.
Schopfer Architects of Syracuse handled the design of the building, while Hayner Hoyt Construction Company of Syracuse will handle the construction work.
O’Toole declined to disclose a project cost.
The branch will employ four or as many as five people — including a branch manager and at least two tellers.
Compass FCU currently has only two employees at the Canalview Mall branch, so it will be increasing its employee count by at least two, according to O’Toole. The new hires are still to come, he adds.
Mike Pisa, president of the Compass Federal Credit Union board of directors, joined O’Toole and spoke about the new location during the June 25 groundbreaking event.
“I would like to thank everyone involved for what we have being accomplished,” Pisa said, according to the news release. “This location is a great opportunity to be able to better serve the community.”
Compass FCU’s roots date back to 1966, when a credit union was formed at Alcan Aluminum in Oswego, according to the credit union’s website. In October 1967, it formally received its charter under the name: “Oswego Aluminum Employee’s Credit Union.”