NEW YORK — Genesee Coop Federal Credit Union has joined Inclusiv Business Forward as the fourth New York credit union participating in the small business lending initiative, according to Inclusiv.
Inclusiv said the program, launched in 2025, is designed to expand access to capital for New York entrepreneurs through credit unions, with a particular focus on businesses in low-income communities.
Based in Rochester, Genesee Coop Federal Credit Union was founded in 1982 and is a Community Development Financial Institution (CDFI). According to Inclusiv, the credit union serves approximately 4,000 members, the majority of whom are low-income, and has a longstanding focus on helping new small businesses launch and grow.
Connecting Small Biz with Financing
“Rochester’s small businesses are essential to a strong local economy, yet many entrepreneurs continue to face barriers to accessing affordable capital,” Genesee Coop CEO Dan Apfel said in a statement released by Inclusiv. “Through our partnership with Business Forward, we’re proud to help connect small business owners with the financing, resources and community support they need to grow their businesses and build wealth.”
Inclusiv said Genesee Coop joins Brooklyn Coop Federal Credit Union, Cooperative Federal Credit Union and Lower East Side People’s Federal Credit Union as participating lenders in the program.
Flexible Loans
According to Inclusiv, participating credit unions offer flexible small business loans ranging from $50,000 to $500,000 to eligible New York entrepreneurs, including business owners who have been unable to obtain financing from larger financial institutions.
Inclusiv Business Forward was launched with a $5 million investment from New York State Empire State Development through the federal State Small Business Credit Initiative (SSBCI), according to Inclusiv.
Model for Other States
The organization said the initiative is intended to serve as a model for other states seeking to use SSBCI funding to expand access to capital and technical assistance through Community Development Financial Institutions and other mission-driven credit unions. Long term, Inclusiv said the program aims to increase both community impact and small business lending by participating credit unions.
