Lower East Side People’s Federal Credit Union Doubles Accounts
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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]