Generations Bank office in Union Springs is designated as a business banking development district
In a joint application to the New York State Department of Financial Services the village of Union Springs and Generations Bank has been designated as a Banking Development District, the village and bank announced Tuesday.
The designation re-affirms Generations Bank’s commitment to the unique banking needs of the Union Springs area. Through the program, Generations will be able to offer or expand special programs including:
- Expanded discounts and underwriting for business loans and start-ups in the Village of Union Springs to encourage entrepreneurs and businesses to locate in the Village
- Affordable Transportation loan program
- Credit Rescue loans and mortgage refinancing
- Senior Home Improvement Loan program
- Premium returns on select deposit types
- Senior Solutions helping seniors and their families make decisions on Medicare options
- FASFA Seminars – helping students and parents succeed in financing college expenses
“This opportunity is only made possible through a real partnership between the State of New York Department of Financial Services, Generations Bank and Mayor Bud Shattuck of the Village of Union Springs. The support from Yuli Franklin of the NYS Department of Financial Services along with Mayor Bud Shattuck was exceptional. Without their assistance, the BDD designation could not have been achieved” said AG Cutrona SVP for Growth and Profitability at Generations Bank.
“I would also like to express our gratitude to AG Cutrona, Generations SVP, and Union Springs Mayor Bud Shattuck for recognizing the potential of this program and working together to bring this collaboration to fruition” remarked Menzo Case, President and CEO of Generations.
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