Western Lincoln County residents will now have easy access to one of the county’s most well known banks.
First Federal Savings Bank will hold their grand opening and ribbon-cutting celebration on Thursday at 5 p.m., followed by a Chamber of Commerce “Business After Hours” event from 5:30-7:30 p.m.
The bank’s new branch, located at 4461 NC-27 West in Vale, will provide checking and savings account services along with personal loan products, small business loans and business deposit account services to its customers.
According to bank executive Wayne Hoyle, the bank has been looking to expand to West Lincoln for quite some time.
“In 2002, we opened a branch in Boger City, and in 2004, we opened a branch in Denver,” Hoyle said. “We’ve wanted to open a branch in West Lincoln before the economy went downhill in 2008.”
The recent upturn in the national economy is but one of the reasons behind expanding to the western end of the county.
“The people of West Lincoln are such a valuable asset to Lincoln County,” Hoyle said. “We wanted to find a way to support the western end of the county.”
While the bank officially opened its doors in December, Hoyle said they decided to postpone the grand opening until after the holiday season.
“We wanted to make sure we had all of our systems up and running properly and the best customer service support possible,” Hoyle said.
According to the bank’s website, First Federal Savings Bank was formed in 1940 as the Lincoln County Building and Loan Association to serve the county’s mortgage financing and depository needs. In 1947, the association changed its name to First Federal Savings and Loan Association of Lincolnton. By 2000, the bank was ready to change its name to First Federal Savings Bank to reflect the full range of services provided to its customers.
The Vale branch of First Federal Savings Bank is open for business Monday through Friday from 9 a.m. until 5 p.m.