As the Bronx People's Federal Credit Union mobile branch officially opened, Webster announced an innovative partnership with a Bronx-based citizen advocacy group.
The opening of the mobile branch is the first step in establishing the Lower East Side People's Federal Credit Union's Bronx expansion site. Webster and the Bronx Financial Access Coalition (BxFAC) formed a partnership when Webster sponsored the groups involved in BxFAC to bring a proven community credit union model to the Bronx.
The branch will improve access to financial services in an area where local banking centers have historically declined.
Webster's community engagement team, the Lower East Side People's Federal Credit Union, and BxFAC have been working with other strategic partners since late 2020 to develop the mobile branch, which includes financial education programming and service promotion. The Coalition and LESPFCU anticipate opening a physical location by late 2023.
“Our team worked with numerous community partners who shared their vision to create greater access, inclusion and opportunity for wealth building in the Bronx. We listened and saw the opportunity to act,” said Marissa Weidner, chief corporate responsibility officer at Webster. “We know the importance of listening to the communities we serve, as evidenced by the more than 100 community organizations from New York to Boston who helped us develop our $6.5B community investment program. This investment in the Bronx is one example of our commitment to increase convenient access to financial services and economic empowerment in our communities.”
“We are proud to be the premiere sponsor of this innovative investment in the financial health of the Bronx community,” said Karina Saltman, Senior Managing Director, Community Investment, Engagement and Philanthropy.
She went on to add, “We are thrilled to see the mobile van in action, signing residents up for the credit union, giving people the opportunity to save, to borrow, to learn and ultimately to create wealth for future generations.”
The opening of the mobile branch is the first step in establishing the Lower East Side People's Federal Credit Union's Bronx expansion site. Webster and the Bronx Financial Access Coalition (BxFAC) formed a partnership when Webster sponsored the groups involved in BxFAC to bring a proven community credit union model to the Bronx.
The branch will improve access to financial services in an area where local banking centers have historically declined.
Webster's community engagement team, the Lower East Side People's Federal Credit Union, and BxFAC have been working with other strategic partners since late 2020 to develop the mobile branch, which includes financial education programming and service promotion. The Coalition and LESPFCU anticipate opening a physical location by late 2023.
“Our team worked with numerous community partners who shared their vision to create greater access, inclusion and opportunity for wealth building in the Bronx. We listened and saw the opportunity to act,” said Marissa Weidner, chief corporate responsibility officer at Webster. “We know the importance of listening to the communities we serve, as evidenced by the more than 100 community organizations from New York to Boston who helped us develop our $6.5B community investment program. This investment in the Bronx is one example of our commitment to increase convenient access to financial services and economic empowerment in our communities.”
“We are proud to be the premiere sponsor of this innovative investment in the financial health of the Bronx community,” said Karina Saltman, Senior Managing Director, Community Investment, Engagement and Philanthropy.
She went on to add, “We are thrilled to see the mobile van in action, signing residents up for the credit union, giving people the opportunity to save, to borrow, to learn and ultimately to create wealth for future generations.”