A Rochester Credit Union Wants The Local Government To Create A Bank
Melissa Marquez inherited her mother’s deep desire to make the banking system work for those whom it has long excluded.
At 14, she saw her mother break down in tears again and again after coming home from work as a loan officer at a bank. The bank refused to lend to their community in Barrio Logan, an epicenter of Chicano culture in San Diego, her mother told her. Barrio Logan residents would come in, make their deposits and stay faithful customers to the bank, but still couldn’t get access to credit.
That memory from 1974 has driven Marquez to help lead a coalition of tenant organizers, community land trusts, community development lenders and elected officials that has spent the last few years calling for more government-owned banks across New York.