CFCU Charter Expansion

Date: January 26, 2017

CFCU to Expand into New Counties
Ithaca, NY

CFCU Community Credit Union has reached an exciting milestone through the approval of an expansion into three additional Finger Lakes Counties. Currently located in Cortland and Tompkins Counties, CFCU will now enact a plan to open branches and accept members and businesses who live, work, worship, and/or attend school in Cayuga, Ontario, and Seneca Counties. This will be CFCU’s first expansion since 2001.


CFCU currently has 10 office and branch locations in Cortland and Tompkins County. However, thousands of CFCU members reside or work in the surrounding Finger Lakes counties. The approval by the New York State Department of Financial Services (DFS) gives CFCU the ability to better serve these members through physical locations, while allowing the Credit Union access to more potential members.


“CFCU’s commitment to serving our members and communities over the last 64 years, along with the continued growth and success we have built as a financial institution, positioned us for this expansion,” said Lisa Whitaker, President and CEO of CFCU. “We can now extend our philosophy towards banking into new communities by providing financial products, services and community involvement to the 225,000 residents of Cayuga, Seneca and Ontario Counties.”


As CFCU begins its expansion into Cayuga, Ontario and Seneca Counties, the Credit Union will continue to focus on their original footprint. “CFCU will maintain its consistent and robust track record of support to the communities and members currently served,” stated Whitaker. “In addition to a new location being considered in Tompkins County, we will continue to support this area through the many sponsorships, scholarships, shred days, and CFCU Days our communities have grown to love. The strong partnerships we have developed with local universities, theatres, concerts, and over 100 local non-profits we support will only continue to strengthen.”


The timing of this approval falls between two other notable milestones: in 2016, CFCU surpassed $1 billion in assets. Later this year, the credit union also expects to exceed 70,000 members. Thus, this February is kicking off a 'Thanks a Billion' campaign to include specials throughout the year focused on thanking their membership.


Says Whitaker, “Our staff and board share a firm belief in their abilities to bring the CFCU experience to new areas. With their commitment and enthusiasm, together we will transform lives and communities.”
For more information about CFCU Community Credit Union, please visit mycfcu.com.


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CFCU Community Credit Union was chartered in 1953 and currently has approximately 190 employees, over $1 billion in assets, more than 69,000 members. CFCU serves members who live, work, worship or attend school in Cayuga, Cortland, Ontario, Seneca and Tompkins Counties, including persons related by blood, marriage, or living in the same household, as well as any business or organization located in these Counties. CFCU’s mission is to provide the highest level of personal financial services in a friendly, professional manner. One of CFCU’s most important guiding principles continues to be the belief that giving back by volunteering time, energy, financial support and expertise will make the communities it serves better places to live and work. Transforming generations and communities. Simply. Personally. For more information visit www.mycfcu.com. CFCU is federally insured by the National Credit Union Administration.