Consistently placing the community at the heart of its operation is the biggest reason for Cornerstone Community Federal Credit Union’s success, says its CEO, Eric Hepkins.

An example of that deeply rooted commitment to community is Community’s innovative Golden Ticket Mortgage Loan, one he says defies traditional banking practices and is designed to cater to the needs of both credit union members and the broader community.

He explains the non-traditional product is a 30-year fixed-rate mortgage that provides members with the unique option to modify the rate to the market rate plus one-eighth point at any time during the loan term. 

“It’s a product that typifies the determination of Cornerstone’s leadership team to put the needs of members and the community over the maximization of profits or ease of management,” he says. 

"Unlike banks, we don’t have shareholders. Our members are our owners. We're a not-for-profit co-op,” he says of Cornerstone’s core distinction. “Each depositor is an owner and their voice, their access to products and services and their share of dividends are no different whether they have $5 or $5 million in their account.”

That democratic structure, along with a local focus, is what differentiates credit unions from traditional banks and other for-profit financial institutions, he says. 

And the Golden Ticket program along with a commercial loan program focused on supporting small businesses, “exemplify Cornerstone's commitment to promoting thrift and financial access for its owners, especially those of modest means.”

Since 2018, Cornerstone’s assets have grown by more than $150 million and its workforce by 10 percent, while net income has consistently risen, gains he says that can be attributed not only to the unique financial products offered but also to Cornerstone’s dedication to strengthening community ties.

Cornerstone's commitment to the community extends beyond just offering innovative financial products. Cornerstone teams support various community organizations and events. Those include Real Men Wear Pink, Roswell IceCycle Ride, Feedmore of WNY and Sleep in Heavenly Peace. It also helps sponsor more than 50 local organizations such as Cornerstone Arena, Kenan Center, Palace Theater, Miracle Jeans, Aquarium of Niagara, Niagara Hospice, and Habitat for Humanity.

“Serving trust is who we are; that will never change,” Eric says. “When times are tough and the economy is uncertain, people need trust more than ever.” 

Combined with its innovative financial solutions, its ongoing commitment to empowering members and nurturing the community, he says “Cornerstone stands as a testament to the transformative potential of credit unions.”