SFCU donated $75,000 to support the Catholic Charities of Chenango County W.R.A.P. Center as part of our $1Million Reasons initiative. (Submitted photo)

By Sophia Root

Commerce Chenango

SIDNEY - Sidney Federal Credit Union (sfcu) was established in 1949 by employees of Scintilla Magneto Corp. in Sidney.

What began as a financial cooperative serving a single employer's workforce has grown over more than seven decades into one of the region's larger member-owned financial institutions, now serving more than 72,000 members and member-owned businesses across 14 counties throughout upstate New York.

As a not-for-profit credit union, sfcu is owned by its members rather than outside shareholders. Every member holds a vote, and a volunteer board of directors, elected from within the membership, oversees the institution's direction. The credit union generates revenue primarily through interest on loans, including mortgages, auto loans, personal loans and small business lending. Those earnings are reinvested into the institution in the form of better rates, lower fees and expanded services for members.

Sidney Federal Credit Union currently operates 13 branch locations, offering weekday and Saturday hours, and supports 24/7 digital banking for members who prefer to manage accounts online or through a mobile device. The credit union employs more than 200 people across its branch network.

In recent years, the credit union has taken steps to expand access to financial services in areas with limited banking options. sfcu received a “Banking Development District” designation for its work in the Butternut Valley, making it one of only three credit unions in New York State to hold that status.

Through that designation, the institution restored in-person banking services to the Morris area. Sidney Federal Credit Union has also deployed a Mobile Branch to reach members in communities that lack convenient access to a physical location.

This year, sfcu announced a $1 million community investment through its "Why SFCU? $1 Million Reasons" campaign.

The funds are directed to nonprofit organizations working in housing and home repair, food and basic needs, youth and education, and transportation. The credit union has also financed local development projects, including the Principle Hotel project in Norwich.

In addition to its lending and grant activity, sfcu regularly hosts financial education workshops and community events. Information on upcoming programs is available through the credit union's website and social media channels.

Looking ahead to 2026, sfcu officials say the institution is focused on responsible growth and continued support for local businesses while working to ensure members have access to affordable financial products, particularly during periods of economic uncertainty.

Andrew Smith, Chief Retail Officer said, “Being locally rooted allows us to truly understand the unique needs of our communities.” He continued, “We value the relationships, the sense of connection, and the opportunity to make a direct impact on the places we call home.”

More information about Sidney Federal Credit Union's services and career opportunities is available at www.sfcuonline.org.