J2452

Commemorating the 40th Anniversary of the Cooperative Federal Credit Union

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J2452


Senate Resolution No. 2452

BY: Senator MAY

COMMEMORATING the 40th Anniversary of the
Cooperative Federal Credit Union

WHEREAS, It is the custom of this Legislative Body to recognize that
the quality and character of life in the communities across New York
State are reflective of the concerned and dedicated efforts of those
organizations and individuals who would devote themselves to the welfare
of the community and its citizenry; and

WHEREAS, Attendant to such concern, and in full accord with its
long-standing traditions, this Legislative Body is justly proud to
commemorate the 40th Anniversary of the Cooperative Federal Credit
Union; and

WHEREAS, Forty years ago, on April 3, 1982, Cooperative Federal
Credit Union opened to serve its members and their community; the
opening followed a year of learning, organizing, research, and activism;
and

WHEREAS, The original organizing committee evolved into the first
board of directors; they had help from the credit union movement, and
from individual credit unions in Syracuse, Ithaca, and Oswego; and

WHEREAS, The branch started with $30 raised by passing the hat at a
meeting of local activists, concerned about the exodus of the banks from
the Westcott neighborhood and the exclusion of so many from essential
services, like loans and mortgages; and

WHEREAS, They decided to form a Credit Union, owned only by its
members and democratically governed as a cooperative; the first office
was on the solar porch addition on the back of the Syracuse Real Food
Coop, now the Syracuse Cooperative Market; and

WHEREAS, The founders were specifically concerned with divesting
from businesses that supported the Apartheid system of racial oppression
in South Africa; providing fair and friendly financial services designed
by and for people of modest means; and serving those that conventional
banks fail to serve: women, who at the time were entering the workforce
in record numbers, people facing the effects of present or past
discrimination (particularly African Americans, Native American Indians,
and the Lesbian, Gay, Bisexual & Transgender (LGBT) community), very
small businesses, unconventional businesses, and organizations such as
cooperatives, community groups, and nonprofits, families with little
wealth and low income, and part-time workers including many women,
artists, musicians, youth, and those coping with underemployment; and

WHEREAS, Cooperative Federal has in-school branches at four Syracuse
City School District schools: Anthony A. Henninger High School, Edward
Smith K-8 School, George W. Fowler Public Service Leadership Academy,
and William Nottingham High School; they are encouraging students to
learn the habit of saving from an early age; and

WHEREAS, In 2015, Cooperative Federal Credit Union was awarded
second place in a city-wide opportunity to fund projects that "enliven
Syracuse"; it was recognized for their outstanding In-School Savings
Branches, a program that brings lessons about saving and money
management outside of the classroom, allowing students to learn
financial education on their own terms; and

WHEREAS, The success of Cooperative Federal Credit Union is in
direct correlation to the efforts of its administration and staff, whose
involvement is, and always has been, characterized by an impressive
commitment, an unbridled enthusiasm, and an uncompromising standard of
excellence in all endeavors on behalf of this vital institution and the
community it serves; and

WHEREAS, It is the sense of this Legislative Body that when
institutions of such noble aims and accomplishments are brought to our
attention, they should be celebrated and recognized by all the citizens
of the great State of New York; now, therefore, be it

RESOLVED, That this Legislative Body pause in its deliberations to
commemorate the 40th Anniversary of the Cooperative Federal Credit
Union; and be it further

RESOLVED, That a copy of this Resolution, suitably engrossed, be
transmitted to the Cooperative Federal Credit Union.

actions

  • 27 / Apr / 2022
    • REFERRED TO FINANCE
  • 03 / May / 2022
    • REPORTED TO CALENDAR FOR CONSIDERATION
  • 03 / May / 2022
    • ADOPTED

Resolution Details

Law Section:
Resolutions, Legislative

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