cfsbank to build Southpointe branch

Rick Shrum
Observer Reporter

Thirteen months after adopting a new identity, cfsbank is expanding its family.

The Charleroi-based institution announced Wednesday it will open a branch in Southpointe. The bank, according to a news release, acquired property on Technology Drive, where it will construct an 11,000-square-foot branch/administrative building. The target for opening is fourth quarter this year or first quarter 2017.

“The location for this facility will complement not only our home office, but our branches as well,” Neil Bassi, president and CEO, said in a prepared statement.

This will be the 10th branch for a financial operation that, until March 1, 2015, was Charleroi Federal Savings Bank. Currently, there are five in Washington County (Bentleyville, Charleroi, Monongahela, Peters Township and Washington), two in Westmoreland (Rostraver and Hempfield townships) and one each in Fayette (Connellsville) and Butler (Seven Fields).

The bank’s offerings include community banking services for individuals and small to mid-size businesses and business, mortgage and consumer loans.

By any name, cfsbank has a distinguished 80-year history. Its humble beginnings came at a humbling time – with a mere teller window in Charleroi in 1936. But its purpose was noble: assisting and encouraging home ownership.

The bank grew over the next two decades and moved twice. Then in 1956, on its 20th anniversary, the bank relocated to the corner of McKean Avenue and First Street. Its headquarters remain there.