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CU System
CUs eager to participate in N.Y. revitalization
ALBANY, N.Y. (1/8/10)--New York credit unions are eager to participate in New York Gov. David Paterson’s state revitalization plan, said Credit Union Association of New York President/CEO William J. Mellin. Paterson delivered his second State of the State address as governor Wednesday, and outlined his plan to rebuild New York. The association commended Paterson on his address, and said it supports his agenda to build the state economy through fiscal and ethics reform, job development, community reinvestment and modern energy initiatives. New York credit unions will look for ways they can partner with Paterson to achieve his goals, and are ready to help fill a lending void created by commercial banks and other financial institutions because of the subprime crisis, Mellin said. Credit unions have been responsible lenders and will continue to provide capital for small businesses--which will play a larger role in economic revitalization and job creation in the state, he added. “Throughout their history, credit unions have been on the front lines of supporting New York families and communities facing hard times,” Mellin said. “They have taken it upon themselves to move into downtrodden communities that commercial banks have abandoned to make sure the community and its people have access to affordable financial services.” To read Paterson’s address, use the link.
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