Medina Savings & Loan breaks ground on expansion
MEDINA – Medina Savings & Loan celebrated a ground-breaking on Tuesday for an addition to the bank at 11182 Maple Ridge Rd. Pictured, from left, include: James Gardner, chairman of the MSL Facilities Committee; Don Colquhoun, chairman of the board; and Tim Moriarty, president of MSL.
The 768-square-foot addition will go on the western edge of the existing 3,480-square-foot building. Construction of the new addition should be complete in late October, with redecorating inside of the bank to be done next spring.
The bank dates back to 1888 in Medina. It has two branches – Maple Ridge Road in Medina and inside the Wal-Mart on Route 31 in Albion.
The addition allows Medina Savings & Loan to develop more customer privacy, as well as update and reorganize existing operations because of substantial growth, bank officials said.
The growth has come from adding numerous services over the last two decades, including commercial loans, commercial checking, various types of consumer loans, home equity lines of credit, growth in the bank’s residential construction program, and expanded depository services.