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Community Expansion

Community Expansion6/1/2017

Palisades Credit Union announced today it has received approval of its community charter expansion by the National Credit Union Association (NCUA).

With this approval, Palisades Credit Union will expand its membership to serve “persons who live, work, study, volunteer, or worship Rockland County, New York and Bergen County, New Jersey”. This field of membership expansion was approved effective June 1, 2017.

Founded in 1941 as Lederle Federal Credit Union (LEFCU) by a small group of employees of the American Cyanamid Company, the Credit Union has been dedicated to building a financial institution that would provide outstanding financial services at the lowest possible cost. Palisades Credit Union became the first community chartered credit union in Rockland County to serve all person who live, work, study, volunteer or worship in 2002.

The Credit Union will go from serving Rockland County, New York a community of over 300,000 to include Bergen County, New Jersey, bringing the community served to over 1.2 million.

“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. We have already saved Rockland County Residents over 2 million in loan interest and hope to do the same for our Bergen County members.” Tony Molina, CEO

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. It operates three branches and provides a suite of full service banking products and services including mortgage loans, auto loans, personal loans, savings accounts, money market accounts, certificates of deposit, IRAs, and no minimum balance checking accounts. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York or Bergen County, New Jersey.

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