This information was provided by the NYS Dept of Financial Services
The New York State Department of Financial Services (DFS) has approved branch applications for one New York State-chartered bank, Chemung Canal Trust Company’s Capital Bank division, and for one state-chartered credit union, CFCU Community Credit Union. Capital Bank is opening a new branch in Saratoga, and CFCU is opening a new branch, administrative offices, and ATM services in Ithaca.
Lisa Whitaker, President and Chief Executive Officer of CFCU Community Credit Union said, “Since the reopening of the Commons in Ithaca, CFCU has witnessed the power of this central location as a gathering point and cultural hub. Relocating our administrative offices and opening a branch on the Commons is a statement of support for our community and our members. This is an opportunity for CFCU to bring downtown members and businesses a personal experience just a short walk away. We are thrilled to have such support from our volunteer Board of Directors, our employees, and the New York State Department of Financial Services. Much consideration goes into every decision, from utilizing local architects and builders, to carefully integrating a digital approach. To have support from the industry, staff, and community perspectives is inspiring.”
DFS has approved three adjacent spaces for CFCU at 200-204 E. State St., 111 N. Tioga St. and 203 E. Seneca St. in Ithaca, Tompkins county. The locations will consist of a retail branch, including a 24-hour accessible ATM, administrative offices, and a second drive-up ATM.
Originally formed as Cornell Federal Credit Union in 1953, CFCU Community Credit Union converted to a state community charter in 2003.
CFCU more than 60,000 members and over $900 million in assets, currently operating in ten locations in five counties.