The NYU Federal Credit Union is a financial cooperative that was created in 1982 by NYU employees under the leadership of James Ramsey, to exclusively serve the NYU faculty, staff, employees, students, alumni and retirees and their family members. John Brademas, the President of the NYU at the time was very supportive and NYU donated $100,000 seed money to start NYU FCU.

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Since the inception of the credit union, the field of membership was expanded to accommodate not only faculty, staff and administrators of the University, but also students, alumni, retirees and employees of the NYU hospital system. It was also expanded to service the family members of NYU FCU members, through a direct familial relationship or to individuals that share at least 50% of household expenses with NYU FCU members.

 

In 2006, Mira Ness became the CEO of the Credit Union, and led the NYU FCU into expanding services and resources, going from a credit union that was in a rapid decline, only offering personal loans and deposit accounts, to one that offers a growing variety.   

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In 2021, Winthrop University Employees Federal Credit Union merged with NYU Federal Credit Union when NYU acquired the Winthrop University Hospital. Today, we have grown to $70ML in assets, with over 9,000 members.

The NYU FCU is governed by a member-elected, volunteer Board of Directors, who establish policies and control guided by the belief that basic financial services should be affordable to everyone. NYU FCU is a certified Community Development Financial Institution (CDFI), a Minority Depository Institution (MDI) and has a Low-Income Designation (LID).

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The beauty of this cooperative is that by pooling our resources together, we all come out ahead.  We are not a bank, but a benefit to the NYU community. NYU FCU has everything you need in a financial institution. 

 

For over 40 years, we have been helping the NYU community members to achieve their financial goals and bettering their financial well-being.