Alternatives and Us

The Sophie Fund is proud to announce that Alternatives Federal Credit Union is a sponsor of the 2nd Annual Ithaca Cupcake Baking Contest held this Saturday October 14.


Besides helping underwrite the costs of the contest with a financial donation, the fantastic Alternatives team has been working with us behind the scenes to make the event even better than last year. Among the additional features: a coloring contest for the kids (up to age 8). Participants won’t be disappointed!

We’re glad to share in the uniqueness that Alternatives brings to Ithaca. Cornell University (’73) social psychology grad Bill Myers founded Alternatives in 1979 with a mission of serving low and moderate-income people and communities. It prides itself in providing access to safe financial services and education for underserved people.

As a Community Development Credit Union, Alternatives is member-owned, locally controlled, and self-supporting. According to its statement of purpose:

“We believe that by controlling the flow of funds within a small community, the community can build itself to suit its own needs and be more self-reliant. Our social mission is integrated into our economic mission, so for whatever reason, joining Alternatives is making a choice towards a more economically just community.”

Alternatives has been recognized for its social mission and standard of excellence. In 2014, the National Credit Union Association ranked Alternatives as the No. 1 Community Development Financial Institution in the United States.

In 2011, the Wells Fargo Next Awards presented Alternatives with its Advocacy Award for its policy and advocacy leadership on a living wage that began as a local effort and grew into a national movement.

The Sophie Fund is honored to work with Alternatives in our efforts to support mental health initiatives aiding young people in our community.