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Business Beat

January 2, 2013

McLaughlin's to move up Main Street

McLaughlin’s Clothing, a staple on Main Street in Oneonta, will be moving to a new location a few doors away early in the new year, according to Scott McLaughlin, who runs the McLaughlin’s stores in Oneonta and Norwich.

McLaughlin’s Shoes will remain at 146 Main St., but the clothing store will be moving to 166 Main St. – into a space formerly occupied by the former Sport Tech.

McLaughlin said the new location will have more room than the current store.

“With larger space comes more merchandise to offer,” he said Monday. “You can add more brands.”

He said the clothing store would be moving sometime in the next two months. It has been in its current location, 150 Main St., for about three years.

“We were content where we were, but the Sport Tech thing came up fairly quick,” he said. “It was just, I think, a good opportunity to get more square footage and be still on Main Street in downtown Oneonta. That’s our main goal … to service downtown.”

Another section of Sport Tech’s former space – at 74 Water St. – has been taken over by Otsego Bicycles.

Credit unions prospering

New York’s credit unions showed continued growth in the third quarter of last year, according to the most recent Credit Union Performance & Trends Report released by Callahan & Associates.

The state’s credit unions exceeded national averages for assets, shares, members and loans, setting records of $61.5 billion in assets and nearly 4.8 million members.

“This growth reflects the changing attitudes consumers have towards big banks,” said William J. Mellin, president/CEO of the Credit Union Association of New York. “It also shows how credit unions have stepped up their efforts to increase awareness among consumers of credit unions as safe financial institutions that provide both good value and promote thrift.”

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