NEW YORK — Two credit unions of more than $1 billion in assets have joined the National Federation of Community Development Credit Union, the Federation has announced.
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, which seeks to link community development and so called mainstream credit unions in working with lower income and underserved populations.
William Predmore, executive vice president of UN FCU, explained why the credit union chose to join the Federation in a prepared statement. “We realize the critical importance of the Federation’s programs and initiatives. These are activities that strengthen credit unions serving predominantly low-income markets.”
“Partnering with the Federation was a natural progression for MCU,” explained Kam Wong, chief executive officer of MCU, “We’ve enjoyed a close relationship often sharing our resources and supporting their initiatives throughout the years. This step solidifies a long-standing relationship and demonstrates our commitment to serving the underserved through our support of the Federation.”