New York’s Tioga County part of expanded territory for Corning’s First Heritage FCU

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

CORNING, N.Y. — New York’s Tioga County is now part of the expanded territory of First Heritage Federal Credit Union (FCU), which is headquartered in Corning. First Heritage FCU on Sept. 28 announced it is expanding its field of membership into eight additional counties throughout New York and Pennsylvania. The newly enlarged field of membership […]

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

ICAN uses AmeriCU gift for Children’s Museum gift shop

Banks & Credit Unions, Construction, Design & Real Estate, Insurance & Financial Services, New York News, Nonprofits, Regional News, Sports, Entertainment & Tourism, Subscriber Only

UTICA, N.Y. — AmeriCU presented $150,000 to Integrated Community Alternatives Network (ICAN) to support a new gift shop for the Children’s Museum which will be located in ICAN’s Family Resource Center. “The gift shop is an important area located in the glass rotunda, which is being constructed right now. It will be a place where

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Empower FCU appoints King as DEI officer

Banks & Credit Unions, Employee Benefits & Human Resources, Insurance & Financial Services, Nonprofits, People on the Move, Subscriber Only

SYRACUSE, N.Y. — Empower Federal Credit Union (FCU) recently announced it has hired Ebony King as the credit union’s diversity, equity, and inclusion (DEI) officer. In this new role, King is responsible for the development, implementation, and oversight of Empower’s DEI strategy. She will also identify and support DEI priorities for the nonprofit and work

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

SYRACUSE, N.Y. — Empower Federal Credit Union (FCU) recently announced it has hired Ebony King as the credit union’s diversity, equity, and inclusion (DEI) officer.

In this new role, King is responsible for the development, implementation, and oversight of Empower’s DEI strategy. She will also identify and support DEI priorities for the nonprofit and work to “translate them into practical and actionable solutions,” per an Empower release.

Internally, she will partner with Empower’s leadership team to “support a culture that promotes staff engagement and commitment to enhance the employee experience.” In addition, she will implement a DEI knowledge-building strategy to educate and raise awareness for leadership, staff, and partners.

King has more than 16 years of experience in the field of diversity, equity, and inclusion, most recently serving as the diversity and inclusion specialist for Office of Diversity and Inclusion (ODI) at Syracuse University.

In that role, she led and facilitated ODI diversity, equity, and inclusion training and workshops. King also implemented the ODI workshop program and served as office liaison to campus departments, offices, committees, and programs.

She also conducted diversity and inclusion presentations, facilitated dialogue on race and ethnicity, and communicated with various programs across the university. King’s prior positions include serving as director of multicultural engagement and senior director of diversity and inclusion for Buena Vista University in Iowa, Empower said.

King is from the Bronx borough of New York City. She received her bachelor’s degree in social work with a minor in psychology, as well as a master’s degree in higher-education administration, from Syracuse University. King also received a diversity and inclusion certificate from Cornell University.

“We are excited to have Ebony join our team in the role of the Diversity, Equity, and Inclusion Officer,” Erin Fuller, senior VP/chief administrative officer at Empower FCU, said in the release. “This new position is vital to the success of our company.”

Empower Federal Credit Union, based in Syracuse, is a full-service financial institution that provides savings, loans, and other financial products to members in Central New York, and in eight counties throughout New York state. The credit union has grown over the years through a combination of organic growth and mergers — the largest of which was the 2007 combination between Power and Empire FCUs to create Empower FCU.

Pathfinder Bank names residential mortgage team leader

Banks & Credit Unions, Construction, Design & Real Estate, Employee Benefits & Human Resources, Insurance & Financial Services, People on the Move, Small Business, Sports, Entertainment & Tourism, Subscriber Only

OSWEGO, N.Y. — Pathfinder Bank recently announced it has appointed Joleen DiBartolo as residential mortgage team leader and banking officer. In this role, DiBartolo will manage Pathfinder Bank’s residential lending sales team. In addition, she will originate mortgage loans, promote Pathfinder Bank to the local real-estate market, and help identify and serve the community’s needs.

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

First Source FCU donates to support young entrepreneurs

Banks & Credit Unions, Health Care, Insurance & Financial Services, Nonprofits, Regional News, Small Business, Sports, Entertainment & Tourism, Subscriber Only

NEW HARTFORD, N.Y. — First Source Federal Credit Union (FCU) recently awarded $5,000 to Mohawk Valley Community College Foundation, Inc. to support the college’s Young Entrepreneurs Academy (YEA!). This latest award brings First Source’s total financial support for the program to $30,000, since its inception 11 years ago. “MVCC and the YEA! program continue to

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

This latest award brings First Source’s total financial support for the program to $30,000, since its inception 11 years ago.

“MVCC and the YEA! program continue to amaze,” Pam Way, community relations supervisor at First Source FCU, said in a news release. “We’ve seen first-hand the skills, confidence, college these students gain. First Source gives back to the community in many facets, but education is always held in high regard at the credit union this is such a great way to educate through real-world business scenarios.”

YEA! is an after-school program for students in grades 6-12 that takes them through the process of starting and running their own businesses, transforming them into real and competent entrepreneurs. Students work in close cooperation with local business leaders, community members, and educators to develop ideas and goals, write business plans, pitch ideas to potential investors, obtain funding, develop their brand identity, and more.

The program’s goal is to help students embrace their passion and talents and launch a venture to develop a stronger and more diverse small business community in the region.

“MVCC Foundation is pleased and proud to continue this fantastic opportunity for students to become real life entrepreneurs with the continued support of First Source Federal Credit Union,” Deanna Ferro-Aurience, executive director of institutional advancement and the MVCC Foundation, said. “Exposing middle and high school students to the day-to-day tests and successes of running their own business is a valuable experience.”

MVCC has hosted the Young Entrepreneurs Academy for 11 years. The program is offered in 168 communities across America.

First Source Federal Credit Union serves more than 50,000 members with branches in New Hartford, South Utica, North Utica, Herkimer, and Rome.

Banker discusses changes in commercial real-estate market

Banks & Credit Unions, Construction, Design & Real Estate, Employee Benefits & Human Resources, Insurance & Financial Services, Subscriber Only

But what does a post-pandemic environment look like for bankers, real-estate professionals, property owners, and commercial renters? That depends on a variety of factors, says Lindsay Weichert, senior VP, commercial banking group manager at Community Bank, N.A. in DeWitt, but changes are definitely happening. Some of the biggest changes are in the office sector, which

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Some of the biggest changes are in the office sector, which is going through a bit of a weakening period as many people continue working from home, at least some of the time, and office space isn’t as in-demand.

During the pandemic, businesses learned “workers can be productive and get their job done from home,” she says. That is evidenced by the national office vacancy rate hovering between 16 percent and 18 percent, she adds.

“It’s been steadily ticking up over time,” Weichert says of the rate. In fact, when you factor in the number of companies putting out space for sub-lease, the true vacancy rate is probably closer to 20-22 percent.

During the pandemic when companies didn’t know how things were going to shake out, the sector saw a lot of short-term lease extensions, Weichert says. Now, companies have a much better idea what they need, not only in terms of space but also of what they need included in that space, which on average is only 45 percent occupied by employees.

“Tenants are taking the opportunity to retrench and really understand their needs,” she says. That means smarter use of space, new leases, and “cool perks” like couches, bookshelves, and even fireplaces, according to Weichert. “That’s kind of a trend that’s going on. Making the workspace a little homier.”

That means property owners need to get a little more competitive to land tenants.

On the other end of the spectrum, the retail sector, which Weichert says has been overbuilt since the 1970s, is rebounding nicely with a vacancy rate of about 6 percent. New store openings currently exceed store closings, she adds.

The hotel sector is perhaps the slowest to recover, according to Weichert, and is still in the recovery phase. While travel has bounced back to pre-COVID levels, it remains primarily on the leisure side.

“The business travel … as well as group demand, that’s been a little slower to return,” she says.

What does this all mean for commercial lending? The pipeline is slowing down, especially when rising interest rates and increased costs for materials and supplies are factored in, Weichert says.

However, Micron Technologies and its semiconductor plant could change things, she notes, with things needing to be built in a hurry.

Housing will be high on that list, and developers are already getting sites ready to go, she says. There will also be rapid development in the ancillary industries that serve the semiconductor industry, she predicts, similar to the way the Intel battery plant in Columbus, Ohio spurred other development.

“I think things are definitely headed in a positive trajectory,” Weichert says. “There is a whole level of possible growth we could see.”

As commercial banking group manager, Weichert oversees two lending teams with a staff of about eight. One team focuses on Onondaga, Cayuga, and Oswego counties, while the other team concentrates on the North Country.

Community Bank is the banking subsidiary of Community Bank System, Inc. (NYSE: CBU), which operates more than 215 branches across New York, northeastern Pennsylvania, Vermont, and western Massachusetts. Headquartered in DeWitt, Community Bank System has more than $15.5 billion in assets.

NYCUA Recognition Awards honor area credit unions

Banks & Credit Unions, Employee Benefits & Human Resources, Insurance & Financial Services, New York News, Nonprofits, Regional News, Sports, Entertainment & Tourism, Subscriber Only

Pfisterer The Hall of Fame honors individuals who “devoted their lives to the philosophy and success” of the credit-union movement, and who have made a “significant impact” on credit unions at the local, state or national levels. Pfisterer has been active on NYCUA’s board of directors, serving from 2009-2020, and as chairman from 2015-2017. “I

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Pfisterer

The Hall of Fame honors individuals who “devoted their lives to the philosophy and success” of the credit-union movement, and who have made a “significant impact” on credit unions at the local, state or national levels.

Pfisterer has been active on NYCUA’s board of directors, serving from 2009-2020, and as chairman from 2015-2017.

“I congratulate Mark Pfisterer on his well-deserved induction into the New York Credit Union Hall of Fame this year,” William Mellin, NYCUA president and CEO, said. “Not only is Mark Pfisterer an asset to NYCUA for all he does, during his tenure he grew AmeriCU’s assets exponentially while at the same time dedicating his career to the ‘people helping people’ philosophy of the credit union movement.”

Past Summit FCU leader recognized

NYCUA also recognized the two newest New York state members of the Credit Union House Hall of Leaders, which is located in the Credit Union House in Washington, D.C., and recognizes champions of the credit-union movement for their leadership and commitment to the “philosophy of people helping people.”

The 2022 inductees include Mike Vadala, past president and CEO of the Summit Federal Credit Union, and Paula Stopera, past president/CEO of CAP COM Federal Credit Union, who received the award posthumously.

Adult Financial Education Award

As part of the NYCUA Recognition Awards, NYCUA honored Visions FCU with the Desjardins Adult Financial Education Award for its “Wallet Wellness” program. The award recognizes credit unions that “demonstrate a significant commitment” to adult financial education.

The program includes self-guided lessons, one-on-one certified financial counseling, curated presentations — available both virtually and in person — as well as outreach to schools and businesses throughout its communities.

The initiative continues to expand and “year over year growth of individuals impacted is a testament to Visions FCU’s hard work and commitment to community,” NYCUA said.

Outstanding Professional Award

Before he retired from Visions FCU on July 8, NYCUA recognized Ed Butler with its Outstanding Professional Award. The honor recognizes a professional who has a true passion for credit unions and who inspires others with their hard work, dedication and success.

Butler worked for Visions FCU since college and had worked in roles that ranged from a teller to the executive VP during his 42-year employment. Butler provided oversight to departments that included human resources, information technology, business performance, internal operations, governmental affairs, and “everything member-facing.”

Outstanding Young Professional

NYCUA also recognized Cody Seward with its Outstanding Young Professional award. Seward is manager of operations and virtual branch manager at the Summit Federal Credit Union.

The award honors an individual, 39 years-old or younger, “whose commitment, hard work and achievements have enhanced their credit union and the entire New York credit union movement,” NYCUA said.

Seward’s “unique understanding of credit-union initiatives allows him to look at the bigger picture: not just what is going to benefit The Summit Federal Credit Union, but what is going to benefit the movement both at the state and national levels,” NYCUA said.

Since 2018, Seward has served as the treasurer for the NYCUA’s Young Professionals Commission. In addition to managing the financial affairs of the commission, he has developed and implemented initiatives specifically for credit union young professionals, and assisted the association with its mission to engage, connect, and empower the next generation of industry leaders.

Generations Bank names new market manager of Cayuga County

Banks & Credit Unions, Employee Benefits & Human Resources, Insurance & Financial Services, New York News, People on the Move, Regional News, Subscriber Only

AUBURN, N.Y. — Generations Bank has recently appointed Stephanie Northup to assistant vice president (AVP) and market manager of Cayuga County. In her new position, Northup will manage three Generations Bank offices in Cayuga County, including the two Auburn branches located on Seward Avenue and Osborne Street, as well as the office in Union Springs.

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Tompkins Financial boosts quarterly dividend by 5 percent

Banks & Credit Unions, Insurance & Financial Services, New York News, Regional News, Subscriber Only

ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors has approved payment of a regular quarterly cash dividend of 60 cents a share, up 5.3 percent from 57 cents last quarter. The new dividend is payable on Nov. 15, to common shareholders of record on Nov. 8. At Tompkins’

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

OPINION: Standardized test scores are a call to action

Opinion, Subscriber Only

Preparing New York’s students for the workforce and the responsibilities and challenges beyond school is the most important job of any education system. Since the onset of the COVID-19 pandemic, these goals became significantly more challenging, and in these last few years we learned a great deal about how to address disruptions in our normal

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Unfortunately, recent standardized-test results show massive deficits in student performance that need to be considered should we ever face another health-related disruption like the one COVID-19 presented.

For the first time since 2019, students were measured for their math and reading proficiencies in grades 3-8. In New York state, and across the board, the results were significantly worse than the last time these tests were administered. As such, math scores suffered the worst decline in history and reading scores were at a 30-year low. In New York, only 39 percent of children tested reached proficiency in math, which is down from 47 percent pre-COVID. These setbacks are going to have lasting impacts.

It is clear from the data that remote learning, as it was administered, failed our students. Naturally, a pause on in-school learning was necessary in the earliest stages of the outbreak; however, these pauses went on for far too long. Students, especially younger ones, require the care and guidance of their teachers every day from morning to afternoon.

As a legislature, we are now charged with developing a new plan that accounts for scenarios like the one we faced in 2020. In that same vein, we must also continue to look at ways to update and modernize our educational programs, so they match all the needs of New York’s students. These test scores point to potential inadequacies in our educational system, and some of them lie outside COVID’s impact. Identifying what works best for students and improving our education system is a never-ending effort.

To these ends, the Assembly Minority Conference launched two initiatives: the Task Force on Learning for Work and the Task Force for School Safety & Security. Together, these two statewide information-gathering forums addressed topics impacting our students, ranging from job training and workforce preparedness to ensuring every student has an opportunity to learn safely and securely in schools across New York state.

Additionally, we must also ensure our teachers, administrators, and parents have the support they need to thrive as well. The success of New York’s school children depends on a concerted effort from education professionals, parents, and legislators. Together, we can build a better, more resilient education system in New York, and we must do so, now, with purpose and urgency.

William (Will) A. Barclay, 53, Republican, is the New York Assembly minority leader and represents the 120th New York Assembly District, which currently encompasses most of Oswego County, including the cities of Oswego and Fulton, as well as the town of Lysander in Onondaga County and town of Ellisburg in Jefferson County.

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Get our email updates

What's New

Upcoming Events

Project Homecoming Job & Career Fair 2025

Annual Nonprofit Conference 2026

2026 CenterState CEO Economic Forecast Breakfast

CNYBJ Job Board

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get our email updates