cfsbank to replace Key Bank in California Borough
California Borough will be losing its lone banking location – but not for good.
“We are officially putting in a full-service branch in California,” said Danielle Maurer, chief operating and chief retail officer for cfsbank, based in nearby Charleroi.
Key Bank will cease operations at 256 Third St. in California on Aug. 26 and transfer them to its Monongahela branch. That site will not stand idle for long, though, as cfsbank will take over the building, repurpose it and open its 11th branch.
Maurer said paperwork for the transition has been completed and plans are being formulated.
“The only thing up in the air is how quickly we can get into the building,” she said.
Maurer added that a time frame for opening has not been determined. “I’d say the latest would be September or October. I think we can turn this around quickly.”
One of the linchpins in this endeavor, according to a news release from cfsbank, has been Dr. Richard Martin, the borough administrator. An announcement that California’s only branch would close prompted him to write to cfsbank about establishing a banking presence in the town.
After circulating around the area and organizing a town hall, the bank found there is a groundswell of support for maintaining a banking location in this borough with an estimated 4,900 residents, a number of whom are elderly and may have mobility issues. Not having a bank would present a major challenge for them.
That town hall a few weeks ago attracted a crowd of 75-plus that included residents, business owners, community organizations and local leaders, according to a news release from Maurer. Attendees, she added, submitted nearly 100 statements of interest.
“One of the things that impressed me most throughout this process,” she said, “was how passionately the California community rallied around the idea of keeping community banking local.
“The town hall wasn’t about us presenting a finished plan – it was about listening. The feedback we received, the conversations we had, and the incredible level of support shown by residents made it clear that California isn’t just looking for another bank; they’re looking for a true community partner. We’re honored they see that in cfsbank.”
John Gill, bank president and CEO, said in a statement: “From the moment we began meeting with borough leadership, it was clear that California is a community that values relationships, local investment and personal service – values that have defined cfsbank for more than 90 years.
“The response we received at our town hall exceeded our expectations and confirmed that this is the right opportunity at the right time.
The new branch will provide personal and business banking, mortgage lending, commercial lending, and other financial services.