GPO allowed to expand into 7-county area
New Hartford – GPO Federal Credit Union received approval to expand into a seven-county area.
For 88 years, GPO has served members in Herkimer and Oneida Counties, now GPO’s Federal regulator – the NCUA – is allowing the credit union to expand into Madison, Otsego, Fulton, Montgomery and Hamilton Counties.
“In receiving this change to our membership charter, GPO will be able to grow its footprint into more rural areas where residents have few banking options,” said Nicholas Mayhew, GPO’s CEO and President.
GPO currently operates seven branches in Herkimer, Oneida and Madison Counties. Initial expansion plans include emphasizing accessibility through online options.
“Unlike other financial institutions, most of GPO’s products and services are delivered to members at no cost or at a substantially lower cost than other financial institutions,” Mayhew said. “We have made a commitment to helping members achieve their financial goals and we are not in existence to impose fees or to charge high rates on loans.”
GPO began as a postal credit union in 1931 and since has grown into one of the largest credit unions in Oneida and Herkimer Counties. GPO absorbed many smaller credit unions and had several charter changes throughout its history. Today, more than 31,000 area residents make GPO their primary financial institution – taking advantage of high-yield deposit accounts, access relationships like checking accounts, direct deposit and online banking, and a wide range of loan products including mortgages, home equities, auto, student loans and more.
“While GPO is in the business of helping to save members money, our commitments don’t stop there,” said Mayhew. “We strongly believe in giving back to the communities we serve. Our staff volunteer countless hours in support of locally-based charities and not-for-profits and we provide monetary support as well.”
GPO recently received state-wide recognition from the New York Credit Union Association by winning the Dora Maxwell Award for financial literacy initiatives. GPO delivered programming to refugees, youth, college freshmen, first-time home-buyers and others in an effort to promote financial stability. Also, GPO won the prestigious Owner’s Choice Award for best practices in home lending.
“We are excited to be able to extend the offering of low-cost financial services into these rural and under-served areas….Residents now have an alternative source for both deposit services and loans,” Mayhew said.
For 88 years, GPO has served members in Herkimer and Oneida Counties, now GPO’s Federal regulator – the NCUA – is allowing the credit union to expand into Madison, Otsego, Fulton, Montgomery and Hamilton Counties.
“In receiving this change to our membership charter, GPO will be able to grow its footprint into more rural areas where residents have few banking options,” said Nicholas Mayhew, GPO’s CEO and President.
GPO currently operates seven branches in Herkimer, Oneida and Madison Counties. Initial expansion plans include emphasizing accessibility through online options.
“Unlike other financial institutions, most of GPO’s products and services are delivered to members at no cost or at a substantially lower cost than other financial institutions,” Mayhew said. “We have made a commitment to helping members achieve their financial goals and we are not in existence to impose fees or to charge high rates on loans.”
GPO began as a postal credit union in 1931 and since has grown into one of the largest credit unions in Oneida and Herkimer Counties. GPO absorbed many smaller credit unions and had several charter changes throughout its history. Today, more than 31,000 area residents make GPO their primary financial institution – taking advantage of high-yield deposit accounts, access relationships like checking accounts, direct deposit and online banking, and a wide range of loan products including mortgages, home equities, auto, student loans and more.
“While GPO is in the business of helping to save members money, our commitments don’t stop there,” said Mayhew. “We strongly believe in giving back to the communities we serve. Our staff volunteer countless hours in support of locally-based charities and not-for-profits and we provide monetary support as well.”
GPO recently received state-wide recognition from the New York Credit Union Association by winning the Dora Maxwell Award for financial literacy initiatives. GPO delivered programming to refugees, youth, college freshmen, first-time home-buyers and others in an effort to promote financial stability. Also, GPO won the prestigious Owner’s Choice Award for best practices in home lending.
“We are excited to be able to extend the offering of low-cost financial services into these rural and under-served areas….Residents now have an alternative source for both deposit services and loans,” Mayhew said.
