Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK-NCUA Chairman JoAnn Johnson saw the people helping people philosophy in action recently at a deli that received a loan from Lower East Side People’s Federal Credit Union. Johnson stopped in at Colors, a new cooperative restaurant, which recently opened for business thanks to a bridge loan from LESPFCU. The restaurant founders are former employees of Windows On The World, the restaurant at the top of the World Trade Center that was destroyed on 9-11. According to organizers, the credit union financed the project when no one else would touch it. She also toured other small businesses that have benefited from LESPFCU’s micro-lending program. In addition to serving a Hispanic community of lower Manhattan, LESPFCU has expanded its field of membership to underserved residents living in West Harlem. “Lower East Side People’s Federal Credit Union is a great example of an emerging and visionary credit union that is meeting the demand for small business lending and is filling a niche needed by growing small business owners,” Johnson commented. “Credit unions can and are meeting the business lending needs of their members. I commend the credit union for branching out to serve the underserved. These not-for-profit financial cooperatives such as Lower East Side People’s Federal Credit Union are enabling more Americans to establish small businesses, which create jobs and helps realize a positive economic impact in communities across the country.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.