Near Eastside office will replace the credit union’s existing Westcott office, where Coop Fed has been located since 1994
Credit union to bring financial inclusion, capital access to new members; better service to existing members
New location will provide a centralized hub for members services, lending, and financial counseling
Coop Fed is a mission-focused, community development credit union with additional locations on South Avenue, North Salina Street, and Burt Street in Syracuse
Expansion creates more economic opportunity for small business, homeownership and consumer finance.
Syracuse, NY | Cooperative Federal, a community development credit union, announced plans for a historic move: it is purchasing 1816 Erie Boulevard East, in Syracuse’s Near Eastside neighborhood. The new location will be the credit union’s largest branch, offering updated amenities and expanded access to services: accounts, loans, mortgages, financial education and counseling for homebuyers, local business owners, and other individuals. It will replace a branch currently located 0.9 miles away at 723 Westcott Street, which Cooperative Federal has operated since 1994.
“To build a better future for the people of Syracuse, we need to expand access to capital and we need to make sure that access is equitable,” said Christina Sauve, CEO of Cooperative Federal. “This move allows our credit union to not only maintain service to our existing members, but to keep growing our investment in Syracuse communities.”
In addition to their Westcott office, the credit union has locations at 401 South Avenue (inside the Southwest Community Center/Syracuse Community Connections), 800 North Salina Street, and 516 Burt Street (inside the Syracuse Housing Authority). Their new Erie Boulevard location will provide a centralized hub for member service, lending, financial counseling, community development and back-office operations, including office-street parking and a full-service drive through. It is also located in a certified Opportunity Zone, meaning it is designated by local government as a priority area for economic development. Through its presence, Cooperative Federal aims to support development is inclusive, sustainable, equitable, and beneficial to neighborhoods residents who are predominantly low-income and people of color.
“When Cooperative Federal was first founded in the Westcott neighborhood, we served a neighborhood that was struggling with blight, vacancy and disinvestment. Standing alongside other nonprofits, leaders, and activists, Coop Fed spent decades transforming the neighborhood into what it is today,” added Sauve. “And step by step, we’ve become a city-wide partner for grassroots revitalization and economic opportunity. Relocating from our historic Westcott ‘home’ to the adjacent Eastside neighborhood is the next step in this journey.”
More information about Cooperative Federal and their expansion plans can be found at www.coopfed.org/new_branch.