Ross McGowan, president and CEO of CentreVenture Development Corp., said he was disappointed [Me-Dian] couldn't make a go of it on Main Street. He said that without a financial institution within walking distance for local residents, many of whom don't drive, the poverty cycle will repeat.

"There's a good critical mass there. There are enough people that require the service and you've also got a lot of businesses starting to relocate there," McGowan said. "There's no recreation, no shopping except a small grocery store, no coffee houses and very few restaurants except if they're attached to a bar. It's very difficult to build a community around here. We need vibrant shopping and recreation opportunities, things that people in other parts of town take for granted."

McGowan isn't giving up, however. He said he's open to incorporating Me-Dian or another credit union in a subsequent project.