ESL Federal Credit Union Earns #1 Ranking as U.S. Small Business Administration Lender in Greater Rochester Region
Rochester, N.Y., October 28, 2024 -- ESL Federal Credit Union is the #1 U.S. Small Business Administration (SBA) lender in the Greater Rochester community by total number of loans. With 91 loans in the fiscal year ending Sept. 30, 2024, ESL provided more than $10.5 million in lending to small businesses across the region. ESL also provided 14 loans for $3.7 million to the Buffalo region through its western branches, bringing total SBA lending for ESL to 105 loans and $14.2 million for the fiscal year. This more than doubles its SBA lending production in 2023.
“We’re pleased to once again be named Rochester’s number one SBA lender,” said Keith Cleary, senior vice president and director of business banking, ESL Federal Credit Union. “We have a strong and innovative business community in the Greater Rochester region that continues to grow and evolve. We’re proud of the valuable partnerships we have built with our business banking members and look forward to continuing to work together to help our business community thrive and prosper.”
The average loan amount through ESL in this latest fiscal year was approximately $135,000, or approximately 60% less than all SBA average loan size in the region. This lesser average loan value further demonstrates the ESL commitment to assist businesses of all sizes.
“Many of our Business Banking relationships begin at one of our branches or through the contact center, and flourish from there,” said Mike Prince, vice president/director, branch and contact center, ESL Federal Credit Union. “We meet businesses wherever they are in their business journey, from starting their business to opening their first business account. Our teams have the expertise and knowledge to support the growth and development of businesses at any size and at every level. It’s a partnership that has seen extraordinary results for both business members and our community at large.”
ESL also has strong community partnerships with local organizations such as SCORE, and Pathstone Enterprise Center that help provide financial support for businesses. To learn more about ESL Business Banking resources, please visit https://www.esl.org/business.
About ESL Federal Credit Union
With more than 100 years of locally owned history, ESL Federal Credit Union serves as a full-service financial institution to more than 429,000 members and 16,800 businesses. Founded in 1920, the company provides personal banking, business banking, mortgage services and wealth management services through its locally based 24-branch network; telephone, mobile and online banking; and live chat center.
The Rochester-based financial institution employs approximately 950 people in the Greater Rochester area and holds more than $9.2 billion in assets. Since 1996, ESL has paid out 29 consecutive Owners’ Dividends to its members totaling more than $290 million. Since the creation of its Community Impact initiative in 2018, ESL has reinvested more than $122 million in grants throughout the community. The company has appeared on Great Place to Work® lists since 2010. ESL Federal Credit Union is headquartered at 225 Chestnut Street, in Rochester, and can be found online at www.esl.org.