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BSCU gets green light from Banking Dept.

Thu, Aug 18th 2011 12:00 am

By ALLISSA KLINE
akline@bizjournals.com | 716-541-1612

The state Banking Department approved Buffalo Service Credit Union's request to open its membership to anyone who lives, works or worships in Erie County.

The 78-year-old credit union sought permission earlier this month to switch from an employer-based credit union to a community charter serving all of Erie County. The request was approved Aug. 10.

Credit union executives have said they would like to expand the organization's membership from the current 5,600 members to as many as 10,000.

Buffalo Service Credit Union operates three branches: at the Niagara Center, 130 S. Elmwood Ave., at Buffalo's Veterans Administration Hospital on Bailey Avenue and another at the AppleTree Business Park on Union Road in Cheektowaga. It is the 20th-largest credit union in Western New York. Assets totaled $40.7 million as of July 31.