A new branch being built for Mainstreet Credit Union in Petrolia’s downtown will replace a Brigden location in 2025.
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Credit union and Petrolia officials held a ground-breaking recently at the site on Petrolia Line, across from the post office.
“It has been an empty lot for a long time so I’m really glad to see it” developed, said Petrolia Mayor Brad Loosley. “It’s going to look sharp.”
The credit union’s arrival in town follows the closing earlier this year of a long-standing Scotiabank branch in Petrolia.
“Securing a fantastic location in Petrolia is a significant milestone for us,” Mainstreet CEO Chris Inniss said in a release. “This new branch embodies our commitment to the residents here and in neighboring areas, allowing us to be better equipped to serve members in the long term.”
The new Petrolia branch is expected to have seven employees when it opens, said Jamie Kruspel, Mainstreet’s chief transformation officer.
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“All the staff are coming with us to Petrolia” from Brigden, he said.
“We consistently do an analysis of where we need to be to best serve our members in the different markets and we have been looking at Petrolia as an opportunity for a while,” Kruspel said. “When the location became available it was the right time and opportunity to do this.”
Mainstreet is a full-service financial institution with 10 branches and more than 25,000 members in southwestern Ontario.
“Petrolia is a hub” and “seems under-served in financial services,” Kruspel said.
The branch is being built by Southside Construction, he said. “It’s looking like we should be open for business at the full site something next year.”
During construction, Mainstreet has a temporary location at 4137 Petrolia Line, in the Exit Realty building, where members can open accounts, carry out non-cash transactions and meet with advisers, Tuesday to Thursday, 9 am to 5 pm
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“Anyone can come in and open a membership,” Kruspel said.
“Credit unions are member owned so if you are a member of Mainstreet, you are investing the financial well-being of yourself and the members,” he said. “It really is about people helping people.”
The Petrolia branch will be “a storey-and-a-half” building with windows at the top to bring in natural light, Kruspel.
“One of my other favorite parts of the building is the front door is lined up perfectly to the crosswalk,” he said
Businesses downtown “are all pleased to have in-filling and something going on there,” Loosley said. “I’m trying to keep the downtown as active as I can.”
In early September, council expects to receive a report about potential uses for the more than century-old former Scotiabank building downtown purchased by the municipality in May.
“We’ve got some really good suggestions that we’re going to consider,” Loosley said.
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