LAKEWOOD, N.Y.– Southern Chautauqua FCU has bought a former Rite Aid building to serve as a full-service branch and to house approximately 20 employees in its back office.
“We will also have a community conference room available to the public, much like the community room located in Lakewood, our corporate office,” CEO John Felton told the Post-Journal. “The Jamestown community room will be designed to accommodate 20 to 25 people.”
The credit union has targeted an opening date in September 2026.
Felton told the publication the $161 million CU is about more than just new space.
“The purchase of 811 North Main Street isn’t just an investment in a building – it’s an investment in Jamestown’s future,” Felton said. “We are committed to creating spaces where financial inclusion, education, affordable lending, and meaningful community engagement can thrive.”
Support for ALICE Families
According to the Post-Journal, the credit union has been successful in supporting ALICE families (Asset Limited, Income Constrained, Employed) that work hard but struggle to cover basic needs.
“These are families that live paycheck to paycheck,” Felton was quoted as saying. “These are families that are good, hard-working individuals that maybe have been forced to make a few late payments, missed a payment here or there. They are good people that just need a trusted financial institution.”
