“I felt mistreated by the banks, they left me waiting on the phone just to ask me about my credit score, and then they told me that I should increase it before applying” - Vilma Y., owner of a music program for children, received a $25,000 loan from Union Settlement FCU

“We thought that getting a loan wouldn’t happen, because we didn’t have a credit history and we heard that banks were not lending” - Gregorio Q., grocery store owner, received a $50,000 loan from Brooklyn Coop

"Presenting my business plan and being accepted has increased my confidence and the way I see myself, my potential, and what I can do in a much larger way" - Lara L., owner of a yoga studio, received a $35,000 loan from Neighborhood Trust, FCU

"We wouldn’t have gotten to this point if we had not received the loan from Lower East Side People's FCU" - Layla L., founder and president of a luxury lingerie company, received a $75,000 business loan from LESPFCU

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In the News

Brooklyn Cooperative and Lower East Side People's Federal Credit Union each receive $1.5 million in grants from the the Department of the Treasury's CDFI Fund:

(August 5, 2011): Read more at the Credit Union Times

Credit Unions expand small business lending to fill the void left by commerical banks since the financial crisis:

(July 10, 2011): Read more at USA Today Banking

Brooklyn Cooperative gets mentioned on CNNMoney / Fortune magazine website:

(December, 2011): Read more at CNN Money Online

What is a credit union?

Credit unions are not-for-profit financial institutions that exist to serve their members' needs. Credit unions are cooperatively owned by all of their members, who are people just like you. Like banks, credit unions are insured by the federal government up to $250,000.

Why should I join a credit union?

The main goal of the credit unions featured on this site is to strengthen their communities. Members of these credit unions are also owners of the credit union and benefit from great financial services that help them reach their financial goals.

In a time of tightening access to credit, our credit unions continue to make responsible loans.

Your Neighborhood. Your Credit Union.
YNCU website is sponsored by NYCfNAC
© New York City Financial Network Action Consortium
"Promoting Affordable Financial Services for all Communities"

209 East 3rd St. New York, NY 10009
www.nycfnac.org

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