About Chemung Canal Trust Company
Since October 22, 1833, Chemung Canal Trust Company has provided continuous, progressive financial and credit services to this area. When the doors first opened, Andrew Jackson was President of the United States, which consisted of only 24 states, veterans of the American Revolution were still living, and the City of Chicago was established by 350 settlers. Only two years earlier, the first steam-propelled locomotive made its initial trip from Albany to Schenectady; stage coach lines were still big business; the Chemung Canal had just opened; and, the Erie Railroad was still a dream.
The first bank statement dated November 2, 1833, 10 days after opening for business, showed assets of $318,525, with deposits of $10,390. Our current financial statement shows how far we’ve come. After one year in temporary quarters, the bank moved into its first permanent home at 413-415 East Water Street, in Elmira. The original bank building still stands and is now the home of the Chemung County Historical Society (the picture to the left was taken soon after Chemung Canal moved to its new headquarters in 1920). This building served the bank for 86 years, until 1920. By that time, the bank needed larger quarters and moved into a new building at 129 East Water Street. Fifty-one years later, in August 1971, the bank moved into its present Main Office at One Chemung Canal Plaza. The building at 129 East Water, which was on the southwest corner of our parking lot, was demolished at that timeContinue reading about Chemung Canal Trust Company here
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