Lower East Side People’s Federal Credit Union Doubles Accounts

Posted on: February 23rd, 2010 at 10:39 am by

This image has been archived or removed.

[Photo via Greenmap]

Arianna Huffington recently launched a program dubbed Move Your Money, which is an effort to assist those who wish to move their funds from banks receiving bailouts.  As a result of this movement, the Lower East Side People’s Federal Credit Union on Avenue B reportedly doubled its new accounts.

Sherley Soto, member services manager for the credit union, said it’s too soon to say if LESPFCU is seeing a trend or merely a blip from the increased publicity, but so far the CU is opening ten to fourteen new accounts a week when it normally opens five to seven. And the new members are different too. Whereas previously new members might be satisfied with initially depositing $25 to open a share account and maybe another $25 to open a checking account the more recent new members will deposit more and want to know more about the credit union’s other products and services.

Here is a little background on the institution, via the official website:

The Lower East Side People’s Federal Credit Union (LESPFCU) is a multiple common bond credit union that serves employees and volunteers of the Lower East Side People’s Mutual Housing Association, Neighborhood Economic Development Advocacy Project (NEDAP), the Urban Homesteading Assistance Board (UHAB), People’s Center for Economic Independence (PCEI) and Project Enterprise.

If you live in one of the five boroughs of New York and have a household income less than $38,000 per year, you can also become a member of the LESPFCU through the People’s Center for Economic Independence (PCEI).

[via Credit Union Times]

Recent Stories

Mulberry Street Closes, Gets More Outdoor Dining Space

Mulberry Street in Little Italy is now one of several stretches of city roadbed that is closed to car traffic in an effort to support outdoor dining for local restaurants. This comes in light of the extended pause on indoor dining, previously slated to open at half capacity this past Monday. This past Saturday morning, barricades […]

Martin Scorsese Co-Directing Documentary on New York Dolls Singer David Johansen

The life of David Johansen – flamboyant lead singer of the New York Dolls and Buster Poindexter – is now the subject of a new documentary. And it’s co-directed by Martin Scorsese. The treatment will chronicle the singer’s nearly 50-year career, which began as a teenager in the downtown New York City scene of the […]

LPC Rescinds Beth Hamedrash Hagadol Landmarking, Paving Way for Towering Development

On Mother’s Day in 2017, a teenaged arsonist torched Beth Hamedrash Hagadol. Three years later, the smoldering Norfolk Street site is no longer a city landmark. The Landmarks Preservation Commission last week voted to rescind the special designation that protected the synagogue for five decades. It was purportedly done so without much discussion from the […]

LES Cop Shooting Still Cold Case 8 Years Later

Eight years later, it remains a cold case. In the early morning hours of July 5, 2012, two cops sustained gunfire during a drug bust in the Seward Park Extension on Essex Street. The shooter is still wanted for attempted murder of a police officer, and remains at large. Officers Brian Groves and Eric Corniel chased a suspected […]

Vendors Return to the Market Line on the Lower East Side

As the city slowly attempts to normalize in the wake of COVID-19 lockdown, so too does Essex Crossing. Its underground food court – the Market Line – is now back to business. Several vendors returned and are open, albeit via pick up and delivery only. Those who live within a ten-mile radius of the Market […]