Celebrating 25 Years of Service!

On January 19, 1982 your credit union accepted its first deposit.  That deposit was kept in a small cashbox; the credit union's records were kept on paper; and Genesee Co-op only offered share savings and very small loans.

Over the past 25 years, Genesee Co-op has loaned more than $24.5 million to its member-owners for homes, education, automobiles, and other purposes.  We have helped members rebuild their credit and watched them become successful homeowners.  Members used Genesee Co-op for financial services and started businesses that have become successful enterprises.  Through the ongoing support of members, Genesee Co-op has been able to provide low-cost personal financial services and a level of friendliness and personal service that others gave up long ago.

Over the past 25 years over 6400 accounts have been opened.  Today about 2800 people are member-owners.  While your credit union has always been a locally-focused institution, members who have moved far away continue to use this place for their checking, savings, and borrowing needs.

The Board of Directors and staff of Genesee Co-op want to thank all of the volunteers and employees who have been a part of this financial services cooperative and all the members who make it possible.

Thank You!

GCFCU Timeline
compiled by: Genevieve Legacy

1979-1981:  Local activist Alison Clarke convinced David Knoll to research and lead the effort to secure a credit union charter.  In December 1981 Genesee Co-op FCU receives its charter.

1982:  On January 19th the new CU accepts its first deposits.  At year-end GCFCU has 101 members.

1983:  Genesee Co-op pursues low-income designation, but the application is rejected.  It would take 13 years and a different president before the National Credit Union Administration (NCUA) changed its outdated rules.

1984:  The CU began its efforts to expand by adding like-minded associational groups to the field of membership.  Genesee Co-op becomes one of the smallest credit unions in the country to offer share draft checking to its members.  At year end Genesee Co-op has 252 members.

1987:  Genesee Co-op begins mortgage lending and has 555 members.

1991:  Genesee Co-op starts making student loans which quickly account for about 25% of the CU's lending.  Membership:  1028.

1992:  The credit union is one of the smallest in the country to offer a debit card to its members.  Membership:  1125.

1996:  Genesee Co-op joins the National Federation of Community Development Credit Unions and receives low-income designation from the NCUA.

1997:  Audio Teller service added.  Homeownership IDA program started.  Membership:  1247.

1998:  South Avenue location opens in June.  Money Management Mentor program started.  The US Department of the Treasury awards Genesee Co-op a $50,000 technical assistance grant.  Membership:  1396.

2000:  After 18 years, Genesee Co-op closes its original location and consolidates operations at the South Avenue office.  Active Web Site debuts and provides members with the ability to view account history over the internet.  Membership:  1830.

2001:  The US Treasury Department awards the credit union a $200,000 grant to further its community development work in Rochester.  Membership:  1951.

2005:  Genesee Co-op moves to 395 Gregory Street, in the beautifully renovated Weider Hall building, completing a two year process led by the Board of Directors to move the credit union to a larger facility.

2007:  Genesee Co-op begins a YEAR-LONG 25TH ANNIVERSARY Celebration!