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Banking/Savings and Loans

Oct 26, 2015

CNB debuts intelligent ATM

Canandaigua National Bank & Trust announced the grand opening of an “intelligent” Automated Teller Machine at 291 Hamilton St., Geneva, located across the street from Wegman’s. The ATM is drive-up accessible and “intelligent” features include: immediate availability of cash deposits, no envelope deposits and real time transactions. Founded in 1887, Canandaigua National Bank and Trust[...]

Oct 12, 2015

$15,000 to Rochester Prep High School

The KeyBank Foundation recently announced a grant of $15,000 to Rochester Prep High School, which will help the school prepare students for thriving futures. Rochester Prep High School, part of the Uncommon Schools charter school network, is dedicated to readying their high school students for graduation, college and fulfilling careers and lives. The KeyBank grant […]

Sep 12, 2015

Credit unions ramping up mortgage lending

Credit unions are increasing their mortgage lending, boosted by growing awareness and demand, increased lending staff, new regulations regarding counseling and highly competitive rates. A report issued by TransUnion indicated credit unions provided 11 percent of U.S. mortgage originations for the first quarter of 2015, still a small portion, but a big jump from 7 […]

Sep 12, 2015

Largo Group secures financing

The Largo Group of Companies, Buffalo’s largest privately owned commercial mortgage banking firm, secured $23.3 million in financing for a portfolio of eight office/flex buildings totaling 212,295 square feet in Buffalo. The properties are situated in Niagara Falls and Wheatfield and are concentrated in strong commercialized districts. The transaction was negotiated by Jack Phillips, Principal [[...]

Aug 18, 2015

BNY Mellon pays $14.8M to settle charges on foreign fund

WASHINGTON — Wall Street bank BNY Mellon has agreed to pay $14.8 million to settle federal civil charges of attempting to influence officials of a Middle Eastern sovereign wealth fund by giving internships to their family members. It was the Securities and Exchange Commission’s first action against a bank under a U.S. foreign bribery law, […]

Aug 13, 2015

Summit celebrates construction of new branch

The Summit Federal Credit Union celebrated the construction of their newest East Henrietta branch Tuesday morning with a brick-laying celebration. Summit CEO Mike Vadala, County Executive Maggie Brooks and Henrietta Town Supervisor Jack Moore joined and helped to add “Summit blue” bricks to the exterior of the building. The current Southtown Branch will close when the […]

Aug 7, 2015

Poll shows few in US have received credit cards with chips

Even as an Oct. 1 deadline approaches to replace Americans’ out-of-date credit cards with new cards embedded with computer chips, the vast majority of Americans still have not received their new cards and only a small minority are using the chips at all, a new Associated Press-GfK poll shows. The poll finds that roughly one […]

Aug 6, 2015

CNC recognizes Employee of the Year

Canandaigua National Corporation has presented Rebecca Long of Gorham with its Employee of the Year Award, known as the Arthur S. Hamlin Award, named for Canandaigua National Bank & Trust’s past President, CEO and chairman. The ASH Award recognizes an employee who exemplifies the core values of the man for whom it is named and […]

Aug 4, 2015

Community Bank among tops in satisfaction

J.D. Power and Associates has again ranked Community Bank in the top 10 in the Mid-Atlantic region for customer satisfaction in a recent independent study. The Retail Banking Satisfaction Study is based on responses from more than 80,000 retail banking customers of more than 130 of the largest banks in the United States. This is […]

Jul 14, 2015

Bank of America grants for nonprofits

The Bank of America Charitable Foundation has awarded $161,500 in grants to 12 local nonprofits that help strengthen the Rochester community by playing a critical role in connecting Rochester’s high school students, veterans, and low-income individuals and families to financial education, leadership training, workforce development, and mentoring at their point of need. The grants are […]

Jul 10, 2015

Yellen: Fed still on track to raise rates this year

WASHINGTON — Federal Reserve Chair Janet Yellen said the Fed is on track to start raising interest rates later this year but expressed multiple concerns over headwinds that are still holding back the U.S. economy. She described the outlook for the economy and inflation as “highly uncertain,” amid lingering weakness in the labor market and […]

Jul 7, 2015

State aims at high-interest loans to soldiers

ALBANY (AP) — New York state has taken steps to stop lenders from giving high-interest loans to service members. Gov. Andrew Cuomo said Monday that his administration will subject all loans to military personal to the same state regulations already governing other loans. A longstanding exception to state lending rules had allowed lenders to offer […]

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