New York: Empire State Credit Unions High and Dry Despite Storm
While it is hard to put a final price tag on the cost of lives, homes and businesses throughout New York affected by Hurricane Sandy, federal funds will cover all of New York City's costs, according to a recent report from the city's Independent Budget Office.
About 90% of the total $6.3 billion in Sandy-related emergency and recovery package will be funneled through the Federal Emergency Management Agency. The remaining 10% will be covered with community development block grant funds.
“What we have done here at SJP is create a lending culture and a loan product, with an easy application process, streamlined electronic closing, and expedited funding mechanisms for area boat, recreational, and RV dealers,” Bondanza said. “Even though the economic recovery has been slow, people that are working have their downtime and want to have fun.”
On the southeastern shore of Lake Ontario, the $50 million Oswego County FCU of Oswego, N.Y. boasts a positive ROAA at 1.29%, much better than its peers who averaged 0.49%. What is OCFCU’s secret?