|What are you doing with your money? –credit|
Best credit unions in NYC
If you’re like me, you’ve grown tired of your bank’s constant nickel and dime fee assault. But you need banking services, so where do you turn? You might have thought of joining a credit union in the past but weren’t sure which ones were the best. Well, we’ve put together a list of the best credit unions in NYC to help you sift through the confusion. Please note: This list is only a guide. Consult a licensed, unbiased financial professional before making a decision.
Actors’ Federal Credit Union
Since the Big Apple is filled with countless talented thespians and people in the entertainment industry, the Actors Federal Credit Union (ActorsFCU) seems like a great option for these creative beings. Launched in 1962, the ActorsFCU is for members of the Actors’ Equity Assoc., SAG-AFTRA, AGMA, or any participant in good status with any of its 151 member organizations, plus immediate family members, including grandparents and grandchildren. There’s a minimum deposit of $100 into a share savings account in order to become a member.
|Actors need to save their money wisely –credit|
Self Reliance New York Federal Credit Union
Started in 1951, Self Reliance serves NYC’s large Ukrainian-American community. There’s an initial minimum deposit of $50, plus a $10 membership fee is required to join. The good part of SRFC’s membership is that you’re entitled to be a participant for life if you so choose, even if you decide to relocate.
Lower East Side People’s Federal Credit Union
The LESPFCU operates a number of free ATMs in the serving areas and provides its members with access to a coast-to-coast ATM network, sans the nasty, costly surcharges, which we all know can drain your wallet during the course of a calendar year. Additionally, with many having relatives living abroad, members have the advantage of using international wire transfers.
|LESPFCU is colorful like NYC. it gets pretty festive in here! –credit|
Municipal Credit Union
If you’re one of the countless New Yorkers who is either employed by the city, federal or state and work in the NYC area, a New York State hospital worker, or an archdiocese staffer, among others, then you’re eligible to join Municipal Credit Union, which has been in business since 1916.
I know a lot of teachers and city workers who are members of MCU and I can see why: you can open up a share account with just a $5 balance. Members also have the opportunity to have their own checking and IRA accounts, and the latter starts with only a $500 deposit.
New York Metro Federal Credit Union
NY Metro Fed CU started in 1941 and has now grown to provide services to over 3,750 members. People can become part of the union by depositing a mere $25, and they get to keep their membership privileges if they relocate, retire, or land a new gig.
NY Metro Fed CU services include mortgages, business, real estate, auto and personal loans, ATM/Debit card programs, low-cost wire transfers, no surcharge ATMs, among other valuable benefits.
There are many more credit unions in the New York area. For a complete list, visit the New York page on creditunionsonline.com.
When you use a big bank, do you know where your money goes?
Up to 97 percent of the money you deposit can leave the community, and all of the profits stay with the shareholders. Meanwhile, you get stuck with the fees. But when you use a credit union, the money you deposit stays in the community. Your dollar can become someone’s college degree or a loan for a family’s first home. These local reinvestments are the seeds that keep communities growing.
Invest in something that’s even bigger than the banks. Make your money matter.
Visit MakeYourMoneyMatter.org to learn more.
This post is sponsored by Make Your Money Matter, in association with PSCU.