Community Development Financial Institution · Member-Owned · Since 1979
Banking built for the people traditional finance forgot.
For 47 years, we’ve served the communities traditional banks overlook — with fair loans, real financial coaching, and a genuine commitment to economic justice across 17 counties in New York.
Why we exist
The financial system has never worked for everyone.
Traditional banking was designed to serve people who already have wealth. If you’ve been turned down for a loan, charged fees you couldn’t afford, or felt like you didn’t belong at the bank — that’s not your failure. That’s a design flaw in the system.
Alternatives was founded in 1979 to be something different. We specialize in serving people who’ve been locked out of fair financial products — especially low-income and BIPOC communities across upstate New York.
We’re a certified Community Development Financial Institution (CDFI) and a member-owned credit union. Your money stays in the community. Your membership makes the mission possible.
Our Mission
To help build and protect wealth for people with diverse identities who have been historically marginalized by the financial industry, especially those with low wealth or identifying as Black, indigenous, or people of color.
What makes us different
We were built to serve you — not profit from you.
You’re a member-owner
Not a customer. You own a share of this credit union. Our volunteer board is made up of members just like you.
Certified to serve you
The U.S. Treasury certifies us as a CDFI — meaning we specialize in lending to communities and individuals that traditional banks routinely turn away.
We look at your whole story
Your credit score is one number. We work with where you actually are — with coaching, flexible lending, and a real path forward.
Our 2025 impact
The numbers behind our mission.
Source: Alternatives FCU 2025 Annual Report
What we offer
The tools to get where you want to go.
Whether you’re building credit, buying a home, or starting a business — we have programs built for where you actually are.
Homeownership & Mortgages
FAIR Mortgages and down payment assistance for first-time buyers and families building generational wealth.
Credit Building
Our Credit ScoreBuilder Loan helps you build credit and savings at the same time.
Business Loans & Resources
Business loans for entrepreneurs, plus a curated directory of trusted local partners — offering coaching, training, and funding guidance across the region.
Financial Coaching & Education
Free, one-on-one sessions on money management, savings, credit repair, and budgeting.
Personal & Auto Loans
Fair rates and flexible approvals — because a car loan shouldn’t require perfect credit.
Gender Affirmation Loans
Affordable financing designed to support access to gender-affirming care.
We also offer checking and savings accounts, a VISA credit card, digital and mobile banking, and nationwide ATM access. Open an account to see everything included →
A member story
“I had a hope, or a dream, but no realistic plan. With guidance from Alternatives, I built one.“
Megan Ward
First-time homeowner · Alternatives member
Recognition
Our work has been recognized — locally and nationally.
Selected highlights from more than 40 awards since 1992.
2023 · CUNA
Louise Herring Philosophy in Action Service Award
National recognition for member service rooted in credit union values.
2020 · CUNA · 1st Place National
Desjardins Adult Financial Education Award
Top national honor for financial education programs serving adult members.
2014 · NCUA
#1 CDFI in the United States
Voted top Community Development Financial Institution in the country.
2018 · CardRates.com
Top Institution for Smart Credit Options
Recognized for accessible credit products serving low-income borrowers.
2021 · CUNA Diamond Award · 1st Place
Best in Category: Social Media
National recognition for outstanding social media communications in the credit union industry.
2006 · SBA
CU Lender of the Year — Southern Tier Region
Recognized by the Small Business Administration for outstanding small business lending across the Southern Tier.
Ready to join?
Membership starts with just $5 — that’s your ownership share in the credit union. Straightforward, low-barrier, and built for people who’ve been priced out of traditional banking.
Looking to partner?
We collaborate with nonprofits, funders, employers, and community organizations across our 17-county region.