Spencerport Federal Credit Union (SFCU) says, “Proudly Serving Our Members Since 1962,” and 60 years later, in 2022, their successes continue to grow.
SFCU was originally established to serve the Spencerport School District. Through expansions in 2006 and 2017, they now serve those who live, work, worship, or attend school in Monroe or Orleans Counties.
What is a Credit Union? According to SFCU’s website, “Credit unions are not-for-profit financial cooperatives that exist to serve their members. Like banks, credit unions accept deposits, make loans and provide a wide array of other financial services. As member-owned and cooperative institutions, credit unions provide a safe place to save and borrow at reasonable rates. Credit Union earnings are exempt from income tax because it is a not-for-profit organization. All profits, after setting aside a proper amount for reserves, go back to the membership in the form of dividends, lower interest rates on loans, or improved services.”
Every adult member of the Credit Union also has one vote in governing and setting policy. Board members are all volunteers, serving a three-year term. SFCU’s services include loans, mortgages, lines of credit, credit cards, and more.
Nancy Bodhorn is the current Manager/CEO of SFCU. She will retire on September 2, 2022, after working there for more than 19 years. Nancy has a rich history in the finance world, starting as a teller at a small savings bank in Buffalo in the 1980s. She worked in several aspects of branch banking before taking time off to stay home with her kids. Upon her return to the work world, she came back into finance as a Mortgage Officer.
Nancy says credit unions are all about their communities. “SFCU is known for their great member services and lower rates, and our members love us. Our Board of Directors and Supervisory Committee are all Credit Union members, and they serve as volunteers. It is a three-year commitment, and I have never had any problems finding members to serve. People want to be involved in their communities and want to help their neighbors. That’s what we attribute our success to.”
During her career with SFCU, Nancy served the community for ten years as treasurer of the Spencerport Area Chamber of Commerce. Through the Chamber of Commerce, Nancy was involved with the Dennis Pelletier Youth Hall of Fame Scholarship. She also volunteered on the School-to-Career Advisory Council, where a financial program was developed for Spencerport School students that is now a course requirement for graduation. “In the course, students learn about daily finances, how to budget, manage a household, save and invest. The course also provides an understanding of how interest rates work. We have a scholarship that is awarded each year based on financial literacy and on the student’s commitment to community involvement,” Nancy said. Active in her community during her career, Nancy served on many other boards, committees, and public service associations.
In retirement, Nancy plans to travel, visit with her children who live out of state, and spend time with family and friends.
Succeeding Nancy as SFCU Manager is Spencerport native Kate Czarnecki. After graduation from Fredonia college, Kate and her family lived in the city of Rochester for eight years. She said, “I really wasn’t looking to change jobs, but when I saw this opportunity in Spencerport, I knew it was my dream job, and I applied. I am so happy to move back to Spencerport, to work in the community, and for my kids to go to Spencerport schools.”
Kate is no stranger to the financial world. She has worked at other Credit Unions, as a teller supervisor, as a Branch Manager, and in marketing. Her mother was also in finance as the CEO of the St. Pius Federal Credit Union. “Credit Unions have a special purpose – neighbors helping neighbors. People like investing in small financial institutions that serve their communities. The consistency of the management of SFCU over the years gives the feeling of being well run, and the success comes naturally,” she said. When Kate takes over the role as manager, she will be only the fourth manager since the start of SFCU in 1962.
On August 31, from 11 a.m. to 2 p.m., SFCU members are invited to a special lunch to congratulate Nancy on her retirement and to meet and welcome Kate as the new manager. Spencerport Federal Credit Union is located at 2775 Spencerport Road, Spencerport.
For more information on SFCU membership, services, and history, visit http://www.spnfcu.org
