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| Additional information |
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| First National Bank of Scotia |
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Mission statement:
1st National Bank of Scotia is an independently owned and operated bank dedicated to making peoples' lives better by providing creative financial solutions and superior personalized service to generations of families and businesses in our communities. We encourage and support the growth and success of our customers, employees and the communities we serve. |
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Overview:
Our Values
Family - We are a community bank that treats our customers and employees like family.
Independence - We drive creative solutions through independent ownership and thought process.
Respect - We appreciate and honor the diversity of those around us.
Service - We give a welcoming smile and individual attention to everyone.
Trust - We uphold the highest standards of honesty, integrity, and confidentiality. |
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History:
We dedicate this commemorative history to the officers, directors and employees, past and present, who together have contributed to the exceptional growth and progress of our Bank; to our customers, without whom the Bank would not exist, and to future generations, who will lead the Bank to even greater prosperity.
The first office of the Glenville Bank was at 124 Mohawk Avenue at a site next to what is now the Dragon Garden Restaurant. The staff comprised three employees, and cash had to be taken over to Schenectady nightly for storage in a vault.
The bank had barely begun to operate when the need for larger quarters became obvious. In 1925, William T. B. Mynderse was retained to design the original structure at 201 Mohawk Avenue. The new building opened its doors for business on January 28, 1926.
The new building at the corner of Mohawk Avenue and Ten Broeck Street boasted a vault that made messenger runs across the river to store cash unnecessary. This also provided customers with additional services, including safe deposit boxes.
As with most banks, progress at the Glenville Bank was slowed by the Great Depression, but the bank was never in danger of closing. An expected run on the bank never developed, and as the country moved out of the Depression, rapid growth was resumed.
In 1948, the year the bank celebrated its 25th anniversary, plans were begun for an addition that would double the size of the existing building. One of the most exciting features of the enlarged bank was "auto banking," the area's first drive-in window.
In addition to auto banking, a sidewalk teller was opened to facilitate speed on busy days and accommodate women with baby carriages. Pneumatic tubes were installed to send transactions requiring clerical reference to the main area of the bank.
In September 1955, the bank announced plans to build its first branch in Niskayuna. With expansion on the horizon, the bank petitioned to change its name and became 1st National Bank of Scotia, as it is known today. The Niskayuna Office opened in 1956.
Once branch banking began, it wasn't long before further plans for expansion were on the table. During the 1960s, three new branches were opened. The Colonie branch, shown here, opened in 1960. In 1965 the Guilderland branch opened, with the Glenville branch following in 1966.
In the summer of 1962, 1st National Bank of Scotia became the first bank in the United States to use an electronic computer to service savings accounts. By 1969, the bank installed its own computer, building another addition to house the computer operations department. In this photo, President Ken Buhrmaster discusses the project with GE Engineer Dean Bouton.
In 1973 the bank was ready to celebrate its 50th anniversary by opening two new branches; a temporary facility on Erie Boulevard in Schenectady, and an office in Saratoga Springs. In 1976, our nation's Bicentennial, the permanent facility at 120 Erie Boulevard opened.
Branch expansion in the 1980s included a unique branch arrangement with the General Electric Corporate Research and Development Center, when the bank was invited to open a branch within the facility in 1987 (shown here).
As 1st National Bank of Scotia neared its 75th year of operation, we continued to grow and expand. In August 1997, a 10th office was opened in Rotterdam at 2695 Hamburg Street.
As our 80th year approached, we brought our philosophy of fast, friendly service to southern Saratoga County by opening our Clifton Park/Halfmoon branch on January 3, 2000.
Timeline
November 19, 1923
The Glenville bank is established.
January 28, 1926
Building at 201 Mohawk Avenue opens.
February 9, 1953
1st addition to 201 Mohawk Avenue opens.
October 10, 1954
Closed circuit TV security installed.
April 17, 1956
Glenville National Bank becomes 1st National Bank of Scotia.
October 1, 1956
Niskayuna office opens.
June 14, 1960
Colonie office opens.
July 1, 1962
Savings accounts computerized.
July 3, 1963
Demand deposit accounts computerized.
December 20, 1965
Guilderland office opens.
October 15, 1966
Glenville office opens.
December 31, 1969
NCR Century 100 computer installed.
January 7, 1970
2nd addition to 201 Mohawk Avenue opens.
January 26, 1971
Niskayuna office addition opens.
April 25, 1972
Erie Boulevard office opens.
November 18, 1972
Colonie office addition opens.
January 12, 1973
NCR Century 200 computer installed.
September 20, 1973
Saratoga office opens.
October 24, 1978
NOW accounts introduced at 1st National.
October 5, 1983
NCR 9050 computer installed.
April 15, 1987
General Electric Corporate Research & Development Center office opens.
August 1, 1995
Document Imaging System installed.
August 25, 1997
Rotterdam office opens.
October 1998
1st National adopts check imaging technology.
January 3, 2000
Clifton Park/Halfmoon branch opens.
May 27, 2003
FNB Financial Services is formed. |
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