Black Lives Matter

Statement from Genesee Co-op FCU, June 2020

As a community, we are collectively mourning the tragic and unnecessary killings of George Floyd, Breonna Taylor, Ahmaud Arbery and David McAtee, to name some of the most recent lost black lives. We support the reinvigorated protest movement during the Coronavirus pandemic where black people have suffered some of the greatest harm, here in Rochester and nationwide. Black people in the United States should live with the same rights, opportunities, and protections as all other people.

For more than 400years black people have oppressively lived with the overwhelming weight of a system built on white supremacy**. Police violence, along with racism and discrimination in housing, health care, the judicial system, voting rights, employment, as well as lending and other financial services, have long formed the core of a system designed to favor some while keeping black communities from flourishing. This system of “structural advantage favors white people in social, political, and economic arenas.”**

We see this every day even at Genesee Co-op Federal Credit Union. We regularly work with black and brown members who face predatory interest rates or products from finance companies where white members have much more favorable rates. We do everything we can to help support these members. We help black members buy new homes, refinance cars at reasonable rates, and fight for equitable policy at the state level by participating in the NYS Equity Agenda Coalition. Yet we must confront our limited abilityon our own, to change this fundamentally unjust system and the damage it has wrought. We support black Americans’ call for justice and equality and for meaningful, long-term solutions to this systemic crisis including:

  • ending funding of a “militarized” police force and all forms of police brutality,
  • funding reparations for black communities, and,
  • creating an economy that works for everyone.

We all need a system that not only treats all people equally but repairs the damage done specifically to black Americans. We encourage all the member-owners of Genesee Co-op to join us in following the leadership of our black and brown members and community leaders as we rise up together for a more just and equitable nation and an economy that values racial equity at its core. Black Lives Matter.

 ** White Supremacy: “A system of structural advantage; favors white people in social, political, and economic arenas.” Baratunde Thurston, TED Talk: How to deconstruct racism, one headline at a time.

Our Members make the difference.

Member Since 1982

"I've been a member since the Credit Union was just Dave Knoll with a cardtable in the hallway of the old Genesee Coop on Saturday mornings. I've never been tempted to go anywhere else since that time, even though I now live thirty miles away. I like dealing with nice staff who know my name, who are eager to help, and who are dedicated to financial literacy and empowerment. Plus, it's good to know that my money is being used to invest in people rather than fill the pockets of the wealthiest.

In addition to savings and checking I've turned to the credit union for debit cards, line-of-credit, auto financing, on-line banking, and a home mortgage. I've now financed at least four cars through the credit union, and I've successfully encouraged friends to do the same.

One of my boldest statements ever in the face of raw financial power was when the car dealer required me to sit through a presentation on their financing. My response: "I'm a loyal credit union member, and I'll stick with it even if you offer me zero percent. If I ever get in trouble, the Credit Union will help me work it out, but you guys'll just send the collection agent after me." The guy just gulped and that was that.


And I don't want to forget to mention that as a Credit Union member I get to vote. Real democracy - awesome!

Genesee Co-op Federal Credit Union - it's the best deal in town!"

James Renfrew

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