The state’s Department of Financial Services has approved the Village of Union Springs as a new Banking Development District.
Cayuga County District 7 legislator Keith Batman tells Finger Lakes News Radio the decision will provide access to retail banking services and products for local businesses and residents, including many retirees.
The village is one of fewer than 50 communities in the state to receive the designation. Batman says it is all due to the effort of Mayor Bud Shattuck.
Generations Bank on Cayuga Street will be able to preserve access to banking services in the village while providing financial education on topics that meet the needs of the residents of the district.