Posted on
Sunday, August 17, 2008
Sunday, August 17, 2008
New Digs On Tap For Kelly CFCU
By GREG JUNEK
Business Editor
Kelly Community Federal Credit Union should have a new East Fifth Street branch complete by the end of March 2009, President and Chief Executive Officer Scott Rose said, and the new branch will better serve the institution's growing needs.
Business Editor
Kelly Community Federal Credit Union should have a new East Fifth Street branch complete by the end of March 2009, President and Chief Executive Officer Scott Rose said, and the new branch will better serve the institution's growing needs.
Construction began on July 1. Workers poured the slab for the new branch, a 3,100-square-foot building at 1409 E. Fifth St., two weeks ago.
"You should probably see something going skyward by the end of the month of the middle of September," Rose said.
According to Tyler building permits, construction investment will be about $465,000.
"Ten years ago we branched out for the first time with this leased space, and we just outgrew it about five years ago," Rose said.
Kelly Community's current East Fifth Street branch is a leased facility that is less than half the size of the one under construction, he said. Rather than drive-through service lanes, it has a drive-up window.
"It's going to have four drive-through lanes, an ATM machine. It's going to have video monitors," Rose said.
The video monitors will allow customer and teller to see each other.
"We've got the latest technology going into that type of equipment, which will give us better hearing and better viewing," Rose said.
When the new branch is ready for move-in, Kelly Community will close the leased facility.
"We're going to close that on a Friday and we're going to open up this branch in its place on the following Monday, probably some time by the end of the first quarter in 2009," he said.
The credit union will continue to operate in its headquarters on Grande Boulevard, its Texas Highway 110 branch across from Trane and in the original credit union building on Texas Highway 31 West.
It has about 40 employees.
Rose said it has about $75 million in assets, about $66 million in deposits, about $57 million in loans and about 8,100 member accounts.
Rose said it has about $75 million in assets, about $66 million in deposits, about $57 million in loans and about 8,100 member accounts.
"About one third of our membership is former employees or retired employees of Kelly-Springfield/Goodyear," he said. And about a third of the membership is affiliated with the community in various capacities. The last third is family members of people who are affiliated with the credit union."
Although operations at the Goodyear plant, whose employees started the credit union in 1963, are winding down to closure, the credit union has not suffered, mainly because years ago it received a community charter and can allow anyone who lives, worships or attends school in Smith County to be a member.
"Right now we're experiencing probably the best year that we've had in my 12 years with the credit union," Rose said. "We're experiencing a very, very prosperous year."
The institution is also celebrating its 45th anniversary this year.
"The CU was actually created in February of 1963," he said. "There were eight Kelly-Springfield employees who came together with $5 apiece with a total of $40. Now it has grown to $75 million. It's a pretty good success story, I think."
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