Federation Grows With Addition of Two Big CUs
NEW YORK -- The National Federation of Community Development Credit Union's has grown with the addition of two credit unions of more than $1 billion in assets.
The Federation announced that the $2.5 billion United Nations Federal Credit Union, headquartered in Long Island City, and the $1.3 billion Municipal Credit Union, headquartered in New York City, joined out of a desire to support the Federation and to join with the Federation's Community Development Partner program that seeks to link community development and so-called mainstream credit unions in working with lower income and underserved populations.
"We realize the critical importance of the Federation's programs and initiatives. These are activities that strengthen credit unions serving predominantly low-income markets," said William Predmore, executive vice president of UN FCU.
"Partnering with the Federation was a natural progression for MCU," explained Kam Wong, CEO of MCU, "We've enjoyed a close relationship often sharing our resources and supporting their initiatives throughout the years."