The small Bank of Cattaraugus in western New York has held its community together and supported local businesses and families for 30 years. Its owner, Patrick J. Cullen, remains unimpressed with the exotic financial engineering of bigger institutions. The Bank of Cattaraugus is a family business, with Cullen's wife Joan and daughter Colleen also working
The small Bank of Cattaraugus in western New York has held its community together and supported local businesses and families for 30 years. Its owner, Patrick J. Cullen, remains unimpressed with the exotic financial engineering of bigger institutions. The Bank of Cattaraugus is a family business, with Cullen's wife Joan and daughter Colleen also working there. When the point is made that "you're not going to get big with only $23,000 a year as profit," Colleen's response is, "Well, our goal is not to make a ton of money. It's to help the local people." And while Cullen doesn't make a lot of money, the bank doesn't lose money either.
CBS News, 5/17/2012
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