ROCKLAND COUNTY, N.Y. -- Palisades Federal Credit Union may not have the household name of the big banks, but CEO Tony Molina and his team are out to prove they can service Rockland County residents better--and hope to save them $1 million this year while doing it.
"We're looking to save our members $1 million and we're looking to do that through loan growth," Molina told Daily Voice. "We can refinance a higher loan elsewhere at 8, 9, 10 percent interest and we can probably bring them in at 5 or 6 percent interest."
It isn't just the rates that Palisades Federal Credit Union is proud of, either. The three-branch institution can go toe-to-toe with the big banks on service and technological conveniences as well.
"We do have mobile deposit capture. We do have automated ATMs," Molina said. "Credit Unions have the largest ATM network across the country, so we are really positioned to help the average consumer."
The credit union began operations in 1941 to service the Pfizer plant in Pearl River. It has since expanded to serve anyone who works, lives or worships in Rockland County.
Palisades is looking to extend its footprint into northern Rockland and could open a fourth branch by 2017 or 2018, Molina said.
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