Residents of Spruce View will soon be able to do their banking without leaving the hamlet.
Eckville District Savings and Credit Union Ltd. has struck a deal with Central Alberta Co-op Ltd. to offer banking services at the Co-op in Spruce View.
Eckville Credit Union general manager Mitch Krecsy said the Spruce View outlet will offer “front-line” banking like cheque-cashing, deposits, withdrawals and card services. Operations should begin May 4.
Co-op employees will staff the credit union outlet, although appointments can be made to see credit union officials about things like loans and investments.
“The option that we’ve chosen, to do the agency kind of thing, is certainly a lot cheaper than a bricks-and-mortar-type branch,” said Krecsy.
He said the decision to move into Spruce View reflects Eckville Credit Union’s strategic plan to expand its services. It conducted surveys in various communities to assess opportunities.
“The residents of Spruce View were the ones that indicated the most favourable response to some type of service coming into their community,” said Krecsy.
Despite having a very active retail sector, the hamlet was served only by cash-dispensing machines, he added.
Central Alberta Co-op, with its busy food, hardware and ag supply business in Spruce View, was a perfect partner.
“I think it’s a retail cornerstone of the community,” said Krecsy. “That’s one of the reasons we chose them.”
Eckville Credit Union, which has about 2,300 members, operates no other branches or outlets. Krecsy said other partnerships like that in Spruce View are not in its immediate plans.