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GPO Federal Credit Union Saves Members One Million Dollars

(New Hartford, NY) – GPO Federal Credit Union saved members over one million dollars on interest payments in 2011.

The goal to save members one million dollars was set at the start of the year, and was reached in mid-November 2011. Over 730 members brought their higher-rate loans to GPO from other institutions, refinancing their loans at a lower rate. The savings was calculated by comparing the member’s old loan rate and term, with their new GPO rate and term. The average savings was nearly $1,500 per loan.

“At GPO, our focus is and always has been our members,” said John Prumo, president and CEO. “In these tough economic times, GPO Federal Credit Union is proud to have put over one million dollars back into the pockets of our members, and we look forward to even greater savings in 2012!”

GPO Federal Credit Union is a federally insured, member owned financial cooperative. It was founded in 1931, and today serves more than 23,000 members by offering a full-range of financial services. GPO is headquartered in New Hartford, and has branches in New Hartford, Downtown Utica, South Utica, Oneida, Ilion and Dolgeville.