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Elmira Savings to buy Empower branch

By Traci DeLore

Date:

ELMIRA — Elmira Savings Bank will open a new branch in a Big Flats.

Elmira entered into an agreement with Empower Federal Credit Union to purchase its building at 971 County Route 64 in a deal expected to close Jan. 13, according to a press release. Terms of the deal were not disclosed.

“We are excited about securing a branch location in one of the busiest segments of our markets,” Elmira Vice President and COO Thomas M. Carr said in the release. “This spacious facility has been recently constructed and offers the convenience of multiple lanes of drive-thrus, along with an abundance of parking.”

The facility also contains about 7,000 square feet of undeveloped space that Elmira will lease out to a complimentary business, Carr said.

Elmira Savings Bank, with $523.2 million in total assets, has five branches in Chemung County; three branches and a loan center in Tompkins County; one branch each in Steuben, Cayuga, and Schuyler counties; and a loan center in Cortland County.

Empower, based in Syracuse, has offices in eight counties and more than 105,000 members.

 

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