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Municipal Credit Union announced Thursday that it plans to build a branch in Far Rockaway, Queens, about 25 miles southeast of its Manhattan headquarters and four miles east of Rockaway Beach.
President/CEO Kyle Markland said the area has long faced limited local banking options. The Far Rockaway branch is expected to open in early 2026 in the Arverne-by-the-Sea shopping plaza.
“As a homegrown New York City-based institution, we are proud to bring MCU to Far Rockaway and play a part in strengthening this community,” Markland said. “True to our mission — to help hardworking New Yorkers build better tomorrows — we look forward to serving our new neighbors and making a meaningful impact in the Rockaways.”
A news release from Municipal ($4.6 billion in assets, 631,070 members) said Far Rockaway is a diverse neighborhood with a vibrant history, but in recent years, many residents have struggled with a lack of convenient, full-service financial institutions. The scarcity of nearby options has made it difficult for some individuals and families to access loans, open savings accounts and manage their personal finances.
“Access to quality financial services is essential for any community to thrive, and Far Rockaway has needed this for far too long,” Sen. James Sanders Jr. (D-N.Y.) said. “I am pleased to welcome Municipal Credit Union to our community and applaud their commitment to bringing vital banking services to the residents of the Rockaways. Economic justice starts with financial inclusion.”
Municipal had 16 branches on June 30, unchanged from a year earlier.
In other branch news:
SchoolsFirst Federal Credit Union of Santa Ana, Calif. ($34.1 billion in assets, 1.5 million members) announced Tuesday it has opened a branch in Burbank, about 10 miles north of downtown Los Angeles. The branch at 1030 W. Alameda Ave. serves more than 10,000 members living within a 7-mile radius in the greater Los Angeles and San Fernando Valley area. It had 75 branches on June 30, three more than a year earlier.
Sunward Federal Credit Union of Albuquerque, N.M. ($4.3 billion in assets, 169,578 members) announced Oct. 24 that it will open a branch Nov. 3 in Albuquerque’s South Valley, about 15 miles southwest of its headquarters. It had 15 branches on June 30, three more than a year earlier.
LAFCU of Lansing, Mich. ($1.1 billion in assets, 73,538 members) announced Tuesday that it has begun building a two-lane drive-thru with integrative teller machines (ITMs) to replace an in-store location that closed last year. The ITMs will serve the 700 people who live in Perry and the 1,500 who live in nearby Laingsburg, Durand and Morrice. It had 10 branches on June 30, unchanged from a year earlier.
Space Coast Credit Union of Melbourne, Fla. ($9.2 billion in assets, 684,320 members) announced Oct. 24 that it has opened its first branch in Orlando, 70 miles northwest of Melbourne.
“Opening our Waterford Lakes branch is an exciting milestone in our continued growth in Central Florida,” Gary Prager, chief strategy and growth officer, said. “We’re bringing SCCU’s trusted services closer to our Orlando members and welcoming new members into our cooperative. This branch reflects our commitment to delivering personalized financial guidance, exceptional service and a strong presence in the communities we serve.”
Space Coast had 67 branches on June 30, unchanged from a year earlier.
Contact Jim DuPlessis at JDuPlessis@cutimes.com.
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