In 1992, the Community Action Organization of Erie County, Inc, (CAO), merged with the St. John United FCU. This allowed the credit union to expand its field of membership into additional low income areas. In 1996, the credit union was designated a ‘Low Income Credit Union’ thus qualifying as a Community Development Credit Union. It received three AmeriCorp Vista Volunteer grants. Through the efforts of the Vista Volunteers the Individual Development Account (IDA) was developed.
Since the turn of the century, the field of membership was expanded to include employees of 78 Restoration Corporation (SERC) and the Buffalo Urban League. Other credit union members include members of the St. John Tower Tenants Council, Gethsemane Baptist Church, True Bethel Baptist Church and the Black Chamber of Commerce of Western New York, Inc. Also, plans are in progress to merge with another faith-based credit union in the Buffalo area.
In the year, 2020, the credit union celebrates its’ 47th Anniversary and since December 2019 the organization has granted over 3, 100 loans totaling in access of $8 million dollars. There are additional programs offered by the credit union ranging from youth savings programs to a matching grant program that encourages low income persons to establish and maintain a share account. Also, it coordinates financial education workshops with local banks for its members and the community-at-large.
Unique to this 47-year operation is the fact that there is no full time staff to carry-out daily credit union operations; it is a totally volunteer effort.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154