Association assists Palisades FCU with community charter expansion

LogoPalisades FCU recently received NCUA’s approval for a community charter expansion. With the approval, the credit union will expand its membership to serve persons who live, work, study, volunteer, or worship in Rockland County, New York and Bergen County, New Jersey.

The community charter business plan was written by the New York Credit Union Association.

Founded in 1941 as Lederle Federal Credit Union, Palisades FCU became the first community credit union chartered to serve all individuals who live, work, study, volunteer or worship in Rockland County.

With the addition of Bergen County, the credit union will now be able to serve 1.2 million individuals.

“This is a very exciting time for Palisades Credit Union as we expand our membership to provide financial services to our neighbors in Bergen County, New Jersey, said CEO Tony Molina. “We have already saved Rockland County Residents over 2 million in loan interest and hope to do the same for our Bergen County members.”

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