NEW YORK — A former NCUA examiner and economic development specialist has been hired by the Financial Service Centers of New York, the New York association of check cashers, to further and deepen the connections between New York's check cashers and credit unions.
Check cashers already have relationships with three New York credit unions: the $84 million Actors Federal Credit Union, the $11 million Bethex Federal Credit Union, and the $7.1 million Neighborhood Trust Federal Credit Union.
The former examiner, Gerald Goldenbroit, believes that other CUs, particularly smaller ones, could benefit from similar arrangements. Under the terms of the relationship, called PayNet, members from the participating credit unions can make deposits to their CU accounts at area check cashers, almost all of which have longer hours and more facilities than even shared branch outlets.
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