Solvay Bank Partners with Syracuse University on Live Local Initiative

Syracuse, N.Y.—Solvay Bank, the oldest community bank established in Onondaga County, is partnering with Syracuse University on its newly announced Live Local initiative to support the City of Syracuse in stabilizing neighborhoods in and around the University.

The expanded program allows all Syracuse University regular full-time and part-time faculty and staff members to finance up to 100 percent of the price of the home, with the University serving as guarantor on the mortgage. In addition to the mortgage loan, those employees will receive Solvay Bank’s best interest rate, will be able to forgo additional mortgage insurance, and be eligible to receive a forgivable home improvement loan valued at 10% of the purchase price (up to $15,000) of the home. The entire mortgage loan process will stay local, including application, underwriting, processing, and servicing.

This program was crafted by the University as an initiative for employees to not only help housing in the neighborhoods surrounding campus, but also to provide more opportunities for individuals to afford and buy homes. “This is an important investment in our city, our people, our community and our economy,” says Cydney Johnson, Vice President of Community Engagement and Government Relations at Syracuse University.

“We are proud to partner with Syracuse University in an effort to revitalize our downtown neighborhoods and to make more possible for our local community,” says Paul Mello, President & Chief Executive Officer at Solvay Bank. “We appreciate Syracuse University’s commitment to and ongoing partnership with the city to enhance the area we have lived and served for over 105 years.”

The Live Local program is now available to all Syracuse University regular full-time and part-time faculty and staff. Interested participants can stop by Solvay Bank or call the Solvay Bank Mortgage Department at 315-484-2205 to learn more about the program details.

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