Yes, it is possible to change the institute/ college after the first year and it is easier if both the colleges are under the same university.
In your case, you first need to check with your college administration whether they allow that or not. If yes, then what procedure and formalities need to be followed? Is there any fee or the same? If yes, then how much?
Once this information is acquired, you may check with the college you want to join. Information about accepting the student in mid-course, availability of seat and other formalities are needed to be checked.
If both the colleges are favorable, you can go ahead with your plans.
But apart from the positive responses from both the colleges, your personal adjustment is also important. You study environment will change, friends, teachers, etc will also change. So, be prepared for that.
I will suggest you not to transfer until it is not very much required.
Living & Learning- simultaneous processes!