ROCHESTER, N.Y. Lexington Avenue FCU said this morning it is the recipient of a free branch from First Niagara Bank, including title to the building and all its furnishings and technology, ensuring the surrounding low-income Joseph Avenue community will have continued access to convenient financial services.
In addition to the donation of the branch, which First Niagara acquired last year from HSBC, the bank is contributing $10,000 to the Joseph Avenue Business Association to support development of its four-part strategic plan for revitalization of the neighborhood.
First Niagara sought input from the City of Rochester in order to find a credit union with interest in the space. Together, First Niagara and the City approached the credit union, which was eager to add a second location for its members to conduct their banking. "When First Niagara and the City Council approached us, we saw this as an excellent opportunity for government, business, and not-for-profit to do something with the best of intentions for Rochesterians in mind,” said Charles Casaceli, president of the $17 million credit union, which serves the city of Rochester.
In preparation for the branch donation, First Niagara staff removed all stored data from technology being donated, including computers at the location. The value of the donated branch, technology and furnishings is $200,000.
"First Niagara has always made investing in the communities we serve a top priority," said Suzanne Nasipak-Chapman, Rochester market executive for the $36 billion bank. "We want to make sure that residents and businesses in the Joseph Avenue neighborhood maintain access to a successful financial institution close to where they live and work."
First Niagara will continue to serve the neighborhood from its 70 Lyell Avenue location and 11 other Rochester-area branches.
