The spade and hard hat used by Credit Union CEO Al Messer had a familiar look to it at the ground-breaking ceremony for the institution's new wealth management and commercial banking centre on Thursday morning - it was the same items used 20 years before to break the ground for the Credit Union building currently in use on Third Street.

He was joined by Randy Vopni, chairman of the board of directors, and Mayor Don Schlosser to kick off construction for the facility which will cost in the range of $3 to $3.2 million and take 11 months to complete. A tractor took the ceremonial first scoop of dirt at the ceremony, but actual excavation work for the basement of the new two-storey structure began on Monday.

"This $3 million expansion proves you are a rapidly-growing financial institution and one that will be a part of the community for a long time to come. We feel the expansion bodes well for the city," said Mayor Schlosser.

There has been substantial growth at the Credit Union in the past two decades, said Messer, starting out with 20 staff in 1979 to 55 today serving over 9,000 members. The new commercial banking centre will mean a possible growth in staff as well to as high as 100 or 110 within a few years.

The consumer banking centre will remain where it is, but the teller stations will be reconfigured and reduced by three, as the commercial tellers will be moved over to the new centre.

The Credit Union is hoping to use as many local contractors as possible, said Messer, provided they remain competitive, and they were finalized on Thursday.

The main floor of the new centre will include wealth management services, such as investment banking, as well as commercial banking. A cafe with computer terminals hooked up to investment and stock markets will be available, along with a 1,000-sq.-ft. community room which will have an outdoor deck. This room will be available for use by community groups.

The second floor will house the head office and executive management, and will also serve as a regional headquarters for the many credit unions in the southeast. Messer said this will increase Weyburn's role as a regional centre to help out smaller credit unions in the area.

The 11 staff members currently working in the basement will all move over to the new centre, and will allow the credit union to expand its space for maintenance and storage, both of which are in very short supply right now, said Messer.