2022 in Review for Adirondack Regional Federal Credit Union
A Bright Horizon
One of the great privileges of working at an institution like Adirondack Regional Federal Credit Union is playing a part not only in the success of our members, but of our communities.
After all, our members all live and work in the places we serve. So when we help you get a home loan, you strengthen your community by putting down roots. And when we help you expand your business, you might hire more workers, or pay for renovations.
We’ve always been proud of this relationship to our communities. This year, though, it’s been especially evident.
A year ago, New York State awarded Tupper Lake (where we’re based) $10 million to put toward downtown revitalization projects. That money is shared with businesses and organizations that submit winning proposals for new projects, backed by investments of their own.
I’m proud that five local businesses asked Adirondack Regional FCU to support their proposals with loan commitments. And I’m even prouder that four of those proposals were awarded grants.
A program like the Downtown Revitalization Initiative is often called “transformative,” but I know, in Tupper Lake, it truly is. New housing, improvements to downtown storefronts, investments in arts and culture—big things are happening here. And we’re part of it.
Your membership allows us to have this impact. Last year, our core net income doubled. That’s money that finds its way back into investments for our community. Last year, we extended financing to help three businesses find new owners, rather than closing. And we even launched a new, low-interest auto-loan program, North Country Moves, to help people with low income afford cars so they can get to work.
I know the experts all say our economy is facing headwinds, and I see them, too. But it’s hard not to be excited about the future. And all of us at Adirondack Regional FCU are grateful to have your membership—and support—to make it happen.
2022, By the Numbers
500: New members who joined the credit union in 2022. (Welcome!)
$15 million: New loans originated
1,500: Pounds of documents shredded at our first-ever community shred day
142: Applications received for the Donald DeVirgeles Memorial Scholarship
$20,000: Donations the credit union made to local non-profits and families in need
$1,500: Amount raised for the Tri-Lakes Humane Society through our annual Bark in the Park celebration