North Side Investment: Southern Chautauqua Federal Credit Union opens N. Main Street branch
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The Southern Chautauqua Federal Credit Union opened its newest branch on the north side of town Tuesday.
With a room packed with people at 811 N. Main St., a ribbon-cutting ceremony and awards presentation celebrated the financial institution’s grand opening.
"This is about investing in this side of the community," said Shaa Moore, an information officer with Southern Chautauqua Federal Credit Union.
Moore explained that the new location features 14,000 square feet of retail space, six retail offices, 14 back-office spaces, and a community rental space.
During the ribbon-cutting portion of the ceremony, John Felton, Southern Chautauqua Federal Credit Union CEO, said the organization is made up of all of the customers, staff and people who live, work, and go to school in Chautauqua County – that the organization is there for those who are struggling and want to better their lives.
"We look to serve people who are in the ALICE category," he said.
Felton explained that ALICE is an acronym for Asset Limited, Income Constrained, Employed individuals and families. According to lowincomerelief.com, people who are classified as ALICE are households that earn above the Federal Poverty Level but still struggle to meet basic living expenses. These households often face financial instability despite being employed, as their income does not cover essential costs such as housing, food, and healthcare
"We have people who are trained to help those who are living paycheck-to-paycheck, to get them to think about savings," Felton said.
Several government officials and their staff congratulated Felton, the Southern Chautauqua Federal Credit Union board of directors, and the employees. Guest speakers and presenters included Jamestown Mayor Kim Ecklund, Chautauqua County Executive PJ Wendel, and representatives from Assemblyman Andrew Molitor's office, Senator George Borrello's office, and U.S. Congressman Nick Langworthy.
Felton said with the grand opening of the former Rite Aid building, the SCFC would not close any other locations.
"This is an investment into this side of town," he said. "We will not be closing any other locations."