CAMILLUS, N.Y. — About 70 percent of member-customers who use the Township 5 Camillus branch of the Summit Federal Credit Union (FCU) “primarily” use its mobile and online technology for their transactions. With the use of the technology, the branch has seen declining traffic and fewer transactions for the past few years. That’s why Laurie […]
CAMILLUS, N.Y. — About 70 percent of member-customers who use the Township 5 Camillus branch of the Summit Federal Credit Union (FCU) “primarily” use its mobile and online technology for their transactions.
With the use of the technology, the branch has seen declining traffic and fewer transactions for the past few years.
That’s why Laurie Baker, president and CEO of the Summit FCU, says the organization plans to close that branch in early May.
“We believe we need to concentrate our resources where it makes the most sense for our members who are also the owners of the credit union,” says Baker. “And we have a fiscal responsibility to be wise about how we invest in brick-and-mortar locations and if it would serve members better to invest elsewhere in different technologies. Sometimes that requires changing course.” She spoke with CNYBJ on Jan. 26.
The branch, which is a leased location for the Summit FCU, will close at the end of business on Saturday, May 1. An ATM will remain on-site following the closing.
When asked how many people work at the Township 5 location, Baker cited “branch security purposes” and declined to disclose an employee count. “…But everyone will be able to stay with the Summit, if they choose, and I believe all of them will,” she adds.
The credit union opened the branch in 2016 and at the time called it the “most technologically-advanced” of all its offices.
In contrast to the decline in customer traffic at the Camillus office, the Summit’s newest branches along Taft Road in Clay and in Cortland have had “steady streams” of members seeking in-person services, the credit union says.
The credit union’s Taft Road branch in Clay consolidated its previous Liverpool and Cicero branches into one, so it has a lot more members, according to Baker.
“Some of our members prefer face-to-face transactions and in Cortland, this is more the rule than the exception,” she notes.
The Summit FCU serves 15,000 members and 40 member companies in Central New York.
Despite the branch closure, Baker stresses that the Summit will continue to support initiatives “important to its Camillus members,” such as the Camillus Police Department, Camillus Senior Center, Camillus 4th of July Fireworks at Gillie Lake, and the Carol Baldwin Breast Cancer Research Fund.