ITHACA — CFCU Community Credit Union’s new “Transformation Center” on the Ithaca Commons is now up and running. CFCU also relocated its administrative offices to the same location in the Bank Tower building on the Ithaca Commons at 202 E. State St. in Ithaca. The new facility opened June 3. CFCU believes banking technology is […]
Get Instant Access to This Article
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
- Critical Central New York business news and analysis updated daily.
- Immediate access to all subscriber-only content on our website.
- Get a year's worth of the Print Edition of The Central New York Business Journal.
- Special Feature Publications such as the Book of Lists and Revitalize Greater Binghamton, Mohawk Valley, and Syracuse Magazines
Click here to purchase a paywall bypass link for this article.
ITHACA — CFCU Community Credit Union’s new “Transformation Center” on the Ithaca Commons is now up and running.
CFCU also relocated its administrative offices to the same location in the Bank Tower building on the Ithaca Commons at 202 E. State St. in Ithaca. The new facility opened June 3.
CFCU believes banking technology is “constantly evolving,” so the Transformation Center provides a place for people to come in and test out the new technology and take a survey, says Beth Putnam, chief retail officer at CFCU Community Credit Union.
The person taking the survey can indicate which CFCU location they visit most often, and the credit union can determine if it wants to incorporate the technology at the survey taker’s location.
“So in that way see banking as always transforming,” says Putnam. She spoke with CNYBJ on July 23.
CFCU says its Transformation Center has the “latest in banking technologies,” including palm readers for identity verification and interactive touch tables. The new space also provides 24-hour access to virtual teller machines and a drive-up ATM. CFCU employees will teach members how to make the most of their digital-banking experience, such as depositing checks from home.
The Transformation Center is one of 10 CFCU branches, but it’s the only office that CFCU refers to with this name, she adds.
The credit union also operates a location at 1030 Craft Road in Ithaca, but the organization’s executive-leadership group has relocated from Craft Road to the Ithaca Commons office, says Putnam.
Preparing the space
The Ithaca Commons location was “years in the making,” considering all the planning and site searching involved, says Putnam.
“We completely remodeled the space but retained all the [Bank Tower’s] historic elements,” she notes.
McPherson Builders, Inc. of Ithaca handled the build-out work, while HOLT Architects of Syracuse completed the design work on the new facility.
CFCU didn’t disclose the cost of opening the new office.
CFCU’s location is on the first floor and it has space on the second floor as well, Putnam says.
“We’re excited to have the opportunity to be right on the Commons. There’s just so much going on there. It’s very vibrant,” she says.
The credit union has about 30 employees at the Ithaca Commons location.
“We’re excited to bring CFCU’s famous service and value directly to downtown Ithaca residents, students, and businesses,” Lisa Whitaker, president and CEO of CFCU Community Credit Union, said in a news release. “Their feedback on the Transformation Center’s new banking technologies will be crucial, as the CFCU leadership team continues to identify the ever-changing needs and technology preferences across the credit union’s service area.”
About CFCU
CFCU Community Credit Union was chartered in 1953 and says it currently has about 190 employees, over $1 billion in assets, and more than 75,000 members.
Originally known as Cornell Federal Credit Union, it served the employees of Cornell University. In 1997, it adopted a state charter and became Cornell FingerLakes Credit Union, per its website.
Then in 2003, the credit union converted to a community charter for Tompkins and Cortland counties and formally became CFCU Community Credit Union. As of 2017, CFCU expanded to serve individuals, business, and organizations in Tompkins, Cortland, Cayuga, Ontario, and Seneca counties, the website says.
