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Cornerstone CFCU announces development of new branch; will replace Lewiston location

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Thu, Jun 15th 2017 08:10 pm
Cornerstone Community Federal Credit Union has announced construction of a new branch at 4255 Witmer Road in Niagara Falls. This will ultimately replace the existing location at 721 Center St., in Lewiston, keeping the total number of branches to five in Niagara County.
"We felt this location was better suited and easier to access for our members," Cornerstone CFCU CEO Ann Hood said. "In addition, we wanted to own - versus rent - the branch to help save money for our members."
Credit unions are nonprofit entities, so all profits associated with Cornerstone CFCU get shared with members in the form of lower loan rates, unlike traditional banks. As a result, CFCU said all decisions by the board of directors are made with the financial interests of members in mind.
Construction of the 3,300-square-foot facility is being handled by D.R. Chamberlain Corp. of Lockport, along with both union and nonunion subcontractors.
"We are proud of the fact that we are a union-based company - that's how we got our start in the first place," Hood said. "However, in this instance, we chose to work with both union and non-union firms after reviewing all applicants, determining where they were based, and whether the subcontractor had a relationship with the credit union. In the end, we selected bids that were both reflective of our 50,000 members - and that offered them the best financial option."
The branch is expected to be open by early December. To learn more about CFCU, visit CCFCU.org.

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