Question 1

What is ESL Federal Credit Union (ESL FCU)?

Accepted Answer

ESL Federal Credit Union (ESL FCU) is a full-service financial institution headquartered in Rochester, New York. With approximately $9.9 billion in total assets and over 462,000 members, ESL ranks as the largest locally led financial services institution in the Greater Rochester area and one of the largest credit unions in New York State.

ESL is positioned in the top 1% of more than 7,000 federally insured credit unions nationwide. The credit union serves both individual consumers and businesses, with over 11,800 business members, and employs more than 975 local employees.

Question 2

When was ESL Federal Credit Union (ESL FCU) founded?

Accepted Answer

ESL was founded in 1920 by George Eastman, the inventor and entrepreneur who built the Eastman Kodak Company. Originally established as Eastman Savings & Loan Association, the institution was created to help Kodak employees manage their finances and achieve homeownership.

George Eastman, one of the greatest philanthropists of the 20th century, envisioned making Rochester "the best place on the face of the earth to live in and bring up their families" for his employees. In the first week of operations, more than 3,500 employees signed up to become customers.

On February 1, 1996, the institution underwent a historic transformation when its charter changed from a U.S. bank to a Federal Credit Union, resulting in the name change to ESL Federal Credit Union. In 1997, ESL launched ESL Investment Services, LLC, a wholly owned subsidiary, expanding its financial service offerings to members.

Question 3

Where is ESL Federal Credit Union (ESL FCU) headquartered?

Accepted Answer

ESL Federal Credit Union is headquartered at 225 Chestnut Street in downtown Rochester, New York.

Question 4

Where does ESL Federal Credit Union (ESL FCU) operate?

Accepted Answer

ESL operates throughout the Greater Rochester region of New York State. The credit union maintains 22 branch locations and more than 40 ATM locations across multiple counties.

Membership is primarily available to residents and workers in ten New York State counties: Genesee, Livingston, Monroe, Ontario, Orleans, Seneca, Steuben, Wayne, Wyoming, and Yates. Membership eligibility also extends to employees and retirees of select organizations, including Eastman Kodak Company, Wegmans Food Markets, and several other local employers.

Once an individual becomes a member, their immediate family members—including spouses, children, parents, grandparents, grandchildren, siblings, and household members—automatically become eligible for membership.

Question 5

What services does ESL Federal Credit Union (ESL FCU) offer?

Accepted Answer

ESL provides a comprehensive portfolio of financial products and services for both personal and business members:

Deposit Accounts: Share (savings) accounts, money market accounts, checking accounts (share drafts), certificates of deposit, and health savings accounts.

Lending Services: Mortgages and home equity loans, auto loans, personal loans, credit cards, business loans, and overdraft protection.

Investment and Wealth Management: Through ESL Investment Services, LLC and ESL Trust Services, LLC, members have access to investment advisory services, brokerage services, and trust services.

Digital Banking: ESL offers mobile banking apps for both iOS and Android devices with features including mobile check deposit, bill pay, account transfers, card management, and text banking. Members can access online banking through desktop browsers with full account management capabilities.

Additional Services: Financial counseling, first-time homebuyer programs, financial literacy workshops, insurance services, ATM/debit card programs, and money orders.

Question 6

What makes ESL Federal Credit Union (ESL FCU) unique?

Accepted Answer

ESL's founding by George Eastman creates a distinctive heritage rooted in community service and employee welfare. This philanthropic legacy continues to influence the credit union's operations today.

As a locally owned and locally led institution, ESL maintains strong community ties and has won the Democrat & Chronicle Rochester's Choice Award in the Bank/Trust Company category every year since 2002. The credit union has consistently appeared on Great Place to Work lists since 2010, demonstrating its commitment to both employee and member satisfaction.

ESL's community-focused approach is evident through its support of local organizations and programs. The credit union sponsors scholarships, supports community development initiatives, and provides financial education resources to help members and the broader community achieve financial wellness.

With nearly $10 billion in assets, ESL combines the resources and sophistication of a large financial institution with the personalized service and member-centric philosophy of a credit union cooperative.

Question 7

What type of financial institution is ESL Federal Credit Union (ESL FCU)?

Accepted Answer

ESL Federal Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). As a federal credit union, member deposits are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States government.

As a not-for-profit cooperative, ESL is owned by its members rather than outside shareholders. This structure means that profits are returned to members through competitive rates, lower fees, and enhanced services rather than distributed to external investors.

ESL operates under a multiple common bond charter, originally serving chemical industry employees (primarily Eastman Kodak) but now expanded to include community-based membership across ten counties in upstate New York. The credit union maintains membership in the Federal Home Loan Bank system, which provides additional liquidity and funding sources to support member lending.

ESL Federal Credit Union (ESL FCU)

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About ESL Federal Credit Union (ESL FCU) in the United States