By Doug La Rocque
A fixture in Hoosick Falls for decades, the Tri State Area Federal Credit Union, formerly known as the Hoosick Federal Credit Union, is slated to open the doors on its new branch on Washington Avenue in Bennington, VT on Monday, October 1.
From conception, the idea to open a second branch has been nearly three years in the making. “We started discussing the possibility of expanding our charter in early 2016,” TSAFCU President Jim Martinez tells The Eastwick Press. “We had to put together a 3 year plan for the NCUA (National Credit Union Administration – our federal governing body). They approved our plan around Christmas of 2016. We proposed a name change, and it was approved a few months later. Our next goal was to decide where to go in Bennington. We had originally pitched the idea (to the NCUA) of purchasing and renovating to establish our presence.
Because we couldn’t find a property that met our requirements, we decided to purchase land and build. We found the ideal piece of land and closed on it September or October of 2017. By the end of 2017, shovels were in the ground and we were moving forward. We were fortunate everyone was so accommodating. With the help of Goldstone Architecture, MSK Engineering and Jon Cohen (our attorney), the process (permits and all that goes with new construction) went smoothly.”
As to why the organization looked to Bennington, Martinez said, “we have been successful in Hoosick Falls because we know the people and the demographic. The demographic in Bennington is very similar to that of Hoosick Falls. We are confident we can help the community just like we help those in northern Rensselaer County. Though we will be one of nine financial institutions in Bennington, we believe the people will appreciate the differences between us and everyone else. We’re small, old-fashioned and we love what we do. Bennington is on the rise and we hope to play a part in its resurgence. In time we hope to have a much larger positive impact on the community. We have started by investing in a new office which we hope says ‘We are glad to be here, we expect to be here long term and we plan to make a difference in Bennington and the surrounding communities.’”
The new branch will be open the same hours as the Hoosick Falls location, M,T,W, and F from 9 am to 4 pm, Thursdays until 5 pm and Saturday’s 8 to 10 am. Members may conduct business at either branch.