Cascade History

Fulton Federal / Pinnacle Credit Union Building

Fulton Federal Savings: A History of 2357 Sewell Road

Introduction

The post-World War II suburban expansion of Southwest Atlanta required massive financial infrastructure to support its rapid residential growth. As developers carved new subdivisions out of the dense pine forests, major banking institutions raced to establish footholds in the lucrative western corridors. In the spring of 1962, Fulton Federal Savings and Loan Association planted its flag directly in the heart of Cascade Heights.

Located at 2357 Sewell Road [now Benjamin E. Mays Drive], a thoroughfare later renamed in honor of Dr. Benjamin E. Mays, the branch served as a vital economic and social hub for the surrounding neighborhoods. Its history perfectly mirrors the trajectory of the Cascade corridor itself. The building evolved from a pristine midcentury architectural showcase into a frequent target during the urban crime waves of the 1970s, before ultimately transitioning into a powerful engine of Black financial independence in the 1980s. As the banking industry consolidated, the building proved its commercial resilience, housing local plumbing businesses, insurance agencies, and even a mayoral campaign headquarters before being meticulously restored as a historic financial landmark in the modern era.

Chapter 1: Split-Face Marble and the 1962 Grand Opening

Fulton Federal Savings officially opened its Cascade Heights office on Thursday, May 31, 1962.[1] The new facility marked the fifth location for the rapidly expanding financial institution, which was simultaneously celebrating its milestone of reaching one hundred million dollars in assets.[2]

The institution spared no expense in designing a building that matched the prestige of the surrounding residential estates. Massive full-page advertisements for the grand opening boasted that the branch was constructed of split-face Georgia marble and tastefully appointed with contemporary furniture.[3] The facility offered the absolute height of modern banking conveniences for the era, featuring a night depository, a drive-up window, and “PLENTY OF FREE PARKING” for the increasingly automobile-dependent suburbanites, promising patrons “NO TRAFFIC CONGESTION.”[4]

To draw crowds to the opening weekend, Fulton Federal hosted a massive celebration under the banner “Where the Five Star Flags are Flying.” The bank offered 31 hourly prize drawings for RCA transistor radios and a grand prize of a 21-inch RCA Color TV console, complete with a 90-day service contract.[5] Customers who opened new accounts with $100 or more were offered their choice of “Five-Star Gifts,” including an insulated picnic bag, a silver tray, stainless steel tableware, a 3-piece barbecue set, or a Chatham blanket.[6] The marketing explicitly targeted the affluence of the area, noting that Cascade Heights was a “growing, booming, prosperous neighborhood” and declaring the new marble building the ideal place to save, especially with the dividend rate going up to 4.5 percent.[7]

Chapter 2: A Community Hub

Throughout the 1960s and 1970s, the branch at 2357 Sewell Road functioned as much more than a financial depository. It became a highly utilized civic space for the residents of Cascade Heights and the adjacent Audubon Forest subdivision.

The bank frequently partnered with local government agencies to provide community services. On Monday and Tuesday, October 12 and 13, 1964, the Fulton County Health Department stationed its mobile X-ray unit directly at the Fulton Federal branch from 10:00 a.m. to 6:00 p.m., offering free chest X-rays to local residents.[8] By 1968, the branch was serving as an official distribution point for the Atlanta Transit System, allowing commuters to purchase ATS tokens locally before boarding buses into the city center.[9]

The branch also hosted seasonal events for neighborhood families. On October 27, 1979, the Cascade office threw a massive Halloween party for children under the age of twelve. To encourage financial literacy among the youth, the first 100 children in attendance were given prizes, and the bank held hourly drawings for free savings accounts. Reflecting the anxieties of the era, the nearby West Paces Ferry Hospital simultaneously offered free X-rays of Halloween bags as a precaution against tampered treats.[10]

Chapter 3: The 1970s Crime Wave and Vault Lock-Ins

As the demographic and economic landscape of Atlanta shifted in the 1970s, the quiet suburban isolation of Cascade Heights was pierced by a sharp rise in urban crime. The Fulton Federal branch, sitting prominently on a major thoroughfare, became a frequent and highly publicized target for armed robberies.

The first major incident occurred on a Friday afternoon in January 1970. Three armed bandits, one notably wearing a gas mask, stormed into the building at 2357 Sewell Road. The men immediately overpowered the branch’s 64-year-old security guard, W.H. Smith. “One of them grabbed me and stuck a gun in my back,” Smith recounted to the press. “He took my .38 caliber pistol and told me to get on the floor.”[11]

A female customer, the only patron in the building at the time, noted that the men looked suspicious upon entering. She reported that one of the bandits, described as a tall man, grabbed her and ordered her to the ground. “I didn’t look up,” she stated. “I just stayed on the floor.”[12] Detective Lt. J.E. Helms reported that the thieves rifled through the teller drawers and escaped with approximately $2,000 in cash. They fled in a pickup truck that had been stolen just an hour earlier from the C and G Glass and Weatherstrip Co. at 1420 Westview Drive SW. The abandoned truck was found shortly after the robbery.[13]

The branch was hit again in November 1971 in a strikingly similar fashion. Three armed men entered the bank, herded two employees and a customer into a restroom, and fled with another $2,000. This time, however, the bank’s security measures captured the crime. The FBI released a dramatic photograph taken by a hidden camera, showing one of the robbery suspects casually talking to a woman teller just moments before the holdup.[14]

“The duo forced nine employees and two customers into the bank’s main vault and locked the heavy door behind them. After scooping an undetermined amount of cash from the drawers, the thieves fled. The trapped victims were forced to wait inside the vault, trapped by a time lock, for twenty minutes until another customer entered the seemingly empty bank, heard their frantic knocking from inside the vault, and called the police to free them.”[15]

The relentless string of holdups continued into 1979. On January 12 of that year, the branch was robbed yet again. A brave witness chased the suspects from the building and provided police with a description of their yellow getaway car. Police eventually apprehended 27-year-old Clinton Lee Alston and an unnamed juvenile. Alston pleaded guilty to the robbery and was sentenced to 15 years in prison, part of a broader crackdown by District Attorney Lewis Slaton on a ring of savings and loan robberies plaguing the southwest side of the city.[16], [17]

Chapter 4: New Leadership and the Mutual Federal Acquisition

Despite the security challenges, the branch remained a vital financial institution. As the surrounding neighborhoods transitioned into premier enclaves for Atlanta’s affluent Black professionals, the leadership of the branch evolved to reflect the community it served.

In February 1981, Fulton Federal announced the appointment of Yvonne D. Patterson as the new managing officer of the Cascade branch. A native of Kingstown, Jamaica, Patterson brought a decade of experience in retailing and commercial banking to the role. Having joined Fulton Federal in 1977, she worked her way up from a savings counselor to a management trainee and collections counselor before taking the helm at 2357 Sewell Road. An accomplished public speaker and president of the Atlanta Toastmistress Club, Patterson guided the branch through the introduction of Fulton Federal’s “Fiscal Fitness Package,” highlighting the association’s new interest-earning checking, bill paying by phone, and computerized record keeping.[18]

However, the broader corporate entity of Fulton Federal was struggling. By 1984, despite being Georgia’s largest savings and loan with 45 branches and $1.8 billion in assets, the institution was hemorrhaging money. Fulton Federal had lost approximately $10 million the previous year and was continuing to lose money monthly, severely depleting its capital reserves. To improve its net worth ratio and satisfy federal regulators, Fulton Federal President Henry R. Garmon made the strategic decision to sell off select branches.[19]

Historical Context: Black Economic Empowerment
This corporate distress created a monumental opportunity for Black financial leadership. In September 1984, Fulton Federal agreed to sell the Cascade Heights branch and its assets to Mutual Federal Savings and Loan Association, a prominent Black-owned institution that had been a driving force in the Metro Atlanta community since 1925.[20], [21]

The acquisition was a massive victory for Mutual Federal. Fletcher Coombs, the president and chief executive officer of Mutual Federal, noted that the deal would nearly double his institution’s size, boosting its assets from $20 million to $35 million. “In acquiring this established, well-run branch, we are increasing our number of locations by 50 percent and will have a greatly expanded base from which to serve our customers,” Coombs declared.[22]

The historic transfer of power officially took place on October 1, 1984. Mutual Federal assumed control of the split-face marble building and took over approximately $15 million in savings accounts, certificates of deposit, and IRA accounts.[23] Operating under the Mutual Federal banner, the building at 2357 Benjamin E. Mays Drive continued to serve the residents of Southwest Atlanta alongside their Auburn Avenue and Martin Luther King Jr. Drive locations, transforming from a 1960s corporate outpost into a permanent monument to Black economic empowerment and community resilience.[24]

Chapter 5: Mayoral Campaigns, Commercial Transitions, and the Pinnacle Restoration

As the twentieth century drew to a close, the financial landscape of the corridor shifted, and the split-face marble building at 2357 Benjamin E. Mays Drive transitioned into new commercial and political roles. In the fall of 1997, the building served as the official campaign headquarters for Robb Pitts during his highly contested run for Mayor of Atlanta, placing the historic structure at the absolute center of the city’s political machinery.[25]

The property’s evolution was also closely tied to the changing footprint of its immediate neighbors. For decades, the adjacent lot had been home to Curran Nursery, a beloved local landscaping business that supplied shrubs and trees to the growing midcentury suburbs.[26] The physical landscape of the block was defined by a massive Georgia Power electrical substation next door, rooted in an 1899 easement sold by the Cowart family to the Georgia Railway Company for a 110 K.V. transmission line.[27]

Following the nursery’s tenure, the building was taken over by Ashmel’s Plumbing Company, Ltd. Founded by Ashmel Williams, an immigrant from Montego Bay, Jamaica, who had purchased the historic Hart Plumbing Co. on Auburn Avenue in 1975, the company expanded into Southwest Atlanta.[28] Large signage on the property advertised them as “Builder Developers” and experts in “Architectural Roofing.”[29] The company actively reshaped the residential footprint behind their commercial storefront. Between 1999 and 2003, Ashmel’s Plumbing subdivided the adjacent land accessible from Beecher Road to develop “Ashmel Estates.” They built and sold newly constructed homes on the newly platted Ashmel Court, with properties fetching between $170,000 and $250,000.[30], [31] The building also served as an incubator for other local businesses, housing Marie’s Florist and Garden under its green awnings.[32]

Next door, the historic bank building at 2357 proved adaptable to the neighborhood’s shifting commercial needs. The structure was divided to accommodate multiple tenants, eventually housing a local Allstate Insurance office on the right side of the building and a barber shop on the left.[33] The Allstate agency maintained the property for years, keeping the midcentury structure in active commercial use even as the original banking infrastructure sat dormant.

In 2020, the building’s architectural significance gained formal recognition when it was officially listed as a contributing resource to the Cascade Heights Commercial Historic District on the National Register of Historic Places. This designation set the stage for a dramatic return to its financial roots.

In March 2023, Pinnacle Credit Union, an institution founded in 1926 as the Atlanta Teachers Credit Union, announced plans to invest $420,000 to acquire and build out the 2,290-square-foot space, purchasing the former Allstate office.[34] The credit union partnered with Consultants and Builders, Inc. (CBI) to execute a massive renovation of the property. The project was explicitly designed to return the iconic marble brick branch to its former radiance.[35] To accommodate the modern needs of the credit union, the adjacent building that formerly housed Curran Nursery and Ashmel’s Plumbing was demolished, clearing the space to create an expanded driveway and parking lot for the new financial facility.[36]

The renovation was completed in early 2024. Preservationists and local residents praised the meticulous restoration for respecting the original midcentury aesthetic, specifically noting the preservation of the Georgia marble and the deliberate avoidance of trendy, modern gray paint that often plagues commercial renovations.[37] On July 23, 2024, Pinnacle Credit Union executives and employees held a ribbon-cutting ceremony for the grand opening of the restored branch, breathing new life into the historic corner.[38] Shortly after the opening, in September 2024, Pinnacle Credit Union officially merged with Peach State Federal Credit Union, ensuring the continued financial stewardship of the historic Cascade Heights property.[39]

Related Reading:

Footnotes & Citations (Click to Expand)
Citations:
  1. “GRAND OPENING OF OUR FIFTH LOCATION… FULTON FEDERAL’S NEW CASCADE HEIGHTS OFFICE,” The Atlanta Constitution, May 31, 1962, 19. ↑
  2. “100 MILLION DOLLAR CELEBRATION,” The Atlanta Constitution, June 4, 1962, 10. ↑
  3. “GRAND OPENING OF OUR FIFTH LOCATION… FULTON FEDERAL’S NEW CASCADE HEIGHTS OFFICE,” The Atlanta Constitution, May 31, 1962, 19. ↑
  4. “GRAND OPENING OF OUR FIFTH LOCATION… FULTON FEDERAL’S NEW CASCADE HEIGHTS OFFICE,” The Atlanta Constitution, May 31, 1962, 19. ↑
  5. “GRAND OPENING OF OUR FIFTH LOCATION… FULTON FEDERAL’S NEW CASCADE HEIGHTS OFFICE,” The Atlanta Constitution, May 31, 1962, 19. ↑
  6. “GRAND OPENING OF OUR FIFTH LOCATION… FULTON FEDERAL’S NEW CASCADE HEIGHTS OFFICE,” The Atlanta Constitution, May 31, 1962, 19. ↑
  7. “GRAND OPENING OF OUR FIFTH LOCATION… FULTON FEDERAL’S NEW CASCADE HEIGHTS OFFICE,” The Atlanta Constitution, May 31, 1962, 19. ↑
  8. “X-Ray Unit On Sewell Road,” The Atlanta Journal, October 5, 1964, 11. ↑
  9. “LOOK FOR THIS SYMBOL: ATS TOKENS SOLD HERE,” The Atlanta Journal, December 16, 1968, 7. ↑
  10. “Spooks to X-ray Treats,” The Atlanta Journal, October 24, 1979, 332. ↑
  11. “3 Bandits Get $2,000 From Loan Firm Here,” The Atlanta Journal, January 17, 1970, 3. ↑
  12. “3 Bandits Get $2,000 From Loan Firm Here,” The Atlanta Journal, January 17, 1970, 3. ↑
  13. “3 Bandits Get $2,000 From Loan Firm Here,” The Atlanta Journal, January 17, 1970, 3. ↑
  14. “SUSPECT SOUGHT,” The Atlanta Journal, November 9, 1971, 43. ↑
  15. “Pair Sought In Robbery At S&L,” The Atlanta Journal, October 11, 1977, 30. ↑
  16. “2 Arrested for Bank Robberies; 2 More Nabbed in S&L Holdups,” The Atlanta Journal, January 26, 1979, 30. ↑
  17. “Bank Robbery Called ‘A High-Risk Venture’,” The Atlanta Constitution, March 30, 1979, 64. ↑
  18. “YVONNE PATTERSON Managing Officer Cascade Branch Fulton Federal Savings & Loan Association,” The Atlanta Voice, February 14, 1981, 6. ↑
  19. Peter Mantius, “Fulton Federal to sell southwest branch,” The Atlanta Constitution, September 7, 1984, 29. ↑
  20. Peter Mantius, “Fulton Federal to sell southwest branch,” The Atlanta Constitution, September 7, 1984, 29. ↑
  21. Display Advertisement for Mutual Federal, The Atlanta Journal, June 5, 1988, 177. ↑
  22. Peter Mantius, “Fulton Federal to sell southwest branch,” The Atlanta Constitution, September 7, 1984, 29. ↑
  23. Peter Mantius, “Fulton Federal to sell southwest branch,” The Atlanta Constitution, September 7, 1984, 29. ↑
  24. Display Advertisement for Mutual Federal, The Atlanta Journal, June 5, 1988, 177. ↑
  25. “Campaign ’97,” The Atlanta Voice, September 27, 1997, 10. ↑
  26. Cascade Heights Commercial Historic District National Register of Historic Places Registration Form, Section 7, 2020. ↑
  27. Cascade Heights Commercial Historic District National Register of Historic Places Registration Form, Section 8, 2020. ↑
  28. “Williams Purchases Hart Plumbing Co.,” Atlanta Daily World, September 25, 1975, 12. ↑
  29. Google Street View imagery for 2357 Benjamin E. Mays Dr SW, Atlanta, GA, November 2007. ↑
  30. “Subdivision: Ashmel Estates,” The Atlanta Constitution, March 2, 2000, 153. ↑
  31. “Subdivision: Ashmel Estates,” The Atlanta Constitution, June 20, 2002, JD5. ↑
  32. Google Street View imagery for 2357 Benjamin E. Mays Dr SW, Atlanta, GA, August 2011. ↑
  33. Google Street View imagery for 2357 Benjamin E. Mays Dr SW, Atlanta, GA, November 2007. ↑
  34. Craig Etkin, “Pinnacle Credit Union to spend $420,000.00 to occupy 2,290 square feet of space in Atlanta Georgia,” Intelligence360, March 16, 2023. ↑
  35. “Project Update: Pinnacle Credit Union Branch,” Consultants and Builders, Inc., October 3, 2023. ↑
  36. Google Street View imagery for 2357 Benjamin E. Mays Dr SW, Atlanta, GA, February 2025. ↑
  37. “Project Update: Pinnacle Credit Union Branch,” Consultants and Builders, Inc., February 26, 2024. ↑
  38. “Pinnacle Credit Union’s Atlanta Branch Grand Opening,” Consultants and Builders, Inc., July 23, 2024. ↑
  39. “Peach State, Pinnacle join forces in latest credit union tie up,” Tyfone Inc., August 2024. ↑
Comprehensive Bibliography (Click to Expand)
  • Atlanta Daily World. “Williams Purchases Hart Plumbing Co.” September 25, 1975.
  • Cascade Heights Commercial Historic District National Register of Historic Places Registration Form. 2020.
  • Consultants and Builders, Inc. “Pinnacle Credit Union’s Atlanta Branch Grand Opening.” July 23, 2024.
  • Consultants and Builders, Inc. “Project Update: Pinnacle Credit Union Branch.” October 3, 2023.
  • Consultants and Builders, Inc. “Project Update: Pinnacle Credit Union Branch.” February 26, 2024.
  • Etkin, Craig. “Pinnacle Credit Union to spend $420,000.00 to occupy 2,290 square feet of space in Atlanta Georgia.” Intelligence360, March 16, 2023.
  • Google Street View imagery for 2357 Benjamin E. Mays Dr SW, Atlanta, GA. November 2007, August 2011, February 2025.
  • Mantius, Peter. “Fulton Federal to sell southwest branch.” The Atlanta Constitution, September 7, 1984.
  • The Atlanta Constitution. “100 MILLION DOLLAR CELEBRATION.” June 4, 1962.
  • The Atlanta Constitution. “Bank Robbery Called ‘A High-Risk Venture’.” March 30, 1979.
  • The Atlanta Constitution. “GRAND OPENING OF OUR FIFTH LOCATION… FULTON FEDERAL’S NEW CASCADE HEIGHTS OFFICE.” May 31, 1962.
  • The Atlanta Constitution. “Subdivision: Ashmel Estates.” March 2, 2000.
  • The Atlanta Constitution. “Subdivision: Ashmel Estates.” June 20, 2002.
  • The Atlanta Journal. “2 Arrested for Bank Robberies; 2 More Nabbed in S&L Holdups.” January 26, 1979.
  • The Atlanta Journal. “3 Bandits Get $2,000 From Loan Firm Here.” January 17, 1970.
  • The Atlanta Journal. Display Advertisement for Mutual Federal. June 5, 1988.
  • The Atlanta Journal. “LOOK FOR THIS SYMBOL: ATS TOKENS SOLD HERE.” December 16, 1968.
  • The Atlanta Journal. “Pair Sought In Robbery At S&L.” October 11, 1977.
  • The Atlanta Journal. “Spooks to X-ray Treats.” October 24, 1979.
  • The Atlanta Journal. “SUSPECT SOUGHT.” November 9, 1971.
  • The Atlanta Journal. “X-Ray Unit On Sewell Road.” October 5, 1964.
  • The Atlanta Voice. “Campaign ’97.” September 27, 1997.
  • The Atlanta Voice. “YVONNE PATTERSON Managing Officer Cascade Branch Fulton Federal Savings & Loan Association.” February 14, 1981.
  • Tyfone Inc. “Peach State, Pinnacle join forces in latest credit union tie up.” August 2024.

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