Self Reliance New York Federal Credit Union is headquartered in New York and is the 16st largest credit union in the state of New York. It is also the 209th largest credit union in the nation. It was established in 1951 and as of September of 2013, it had grown to 37 employees and 14,801 members. Self Reliance New York Federal Credit Union's savings rates are 6X the national average, and it boasts a A+ health rating.
To become a member at Self Reliance (NY) Federal Credit Union one must first qualify for membership at the Selfreliance Association of American Ukrainians. Once you join, your family members may also apply for lifetime membership. - See Details
Hello, I thought the following experience I had with this FCU would be of interest to all...
I found this FCU (212-473-7310) had the best CD rates thanks to Ken's valuable website so I contacted them to open an account but... was shocked to hear a lady, at its affiliated Self Reliance Association of American Ukrainians (212-777-1336) which grants eligibility okays, that they accept ONLY Russian, Ukrainian or Polish people. I told them my parents were Ukrainians, she said ok she needs to see their birth certificates.
My parents have been dead for decades and only my sister may still have their documents, but, she has advanced Alzheimer's and lives in Argentina! This seems to be an outrageous and needless complication to just open an account! I further asked - do you acccept Ukrainian Jewish people? She said NO. I repeated my question before ending the conversation which she evaded and just repeated that I have to show proof of nationality. I asked to email me this requirement along with any other requirements but she said she doesn't do that...So I can't show what she told me. I'm totally stunned that in this day and age of fierce political correctness enforcement... and in AMERICA!...that an organization like NCUA should impose or at least approve such unequal rule! I've emailed my thoughts to them and hope they'll answer. Rosedala
They cannot discriminate as such since they are insured by the National Credit Union Administration. Please report them to:
Inspector General: 800-778-4806 firstname.lastname@example.org
This credit union has solid financials and credit standing and it ‘s not discriminating anybody since it strictly following its union policies without breaking the laws.
Some people way too greedy when they can’t cheat the system and have to schlep to they local bank where interest rates is none when comparing to union rates.
If my grandparent are Spanish it does not mean that I am eligible for the educational Spanish grants from city or if my parents came from Poland it does not mean that I am Ukrainian. And if I can’t proof any of my statements that makes me sound like liar regardless whether it true or false. This is multicultural city and we have to respect every cultural institutions traditions and policies. When we make racial remarks without understanding the reason then we should look into the mirror and then make judgment.
Does anyone know what their FDIC Certificate # is, as I can not find them in the FDIC System?
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2013 Self Reliance New York Federal Credit Union had $7.08 million in non-current loans and owned real-estate with $174.7 million in equity and loan loss allowances on hand to cover it. This gives Self Reliance New York Federal Credit Union a Texas Ratio of 4.06% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Self Reliance New York Federal Credit Union decreased dramatically from 7.05% as of September 30, 2012 to 4.06% as of September 30, 2013, resulting in a positive change of 42.47%.This indicates that the balance sheet and financial strength for Self Reliance New York Federal Credit Union has improved dramatically in recent periods.
In the past year, Self Reliance New York Federal Credit Union has increased its total deposits by $107.73 million, resulting in 14.8% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Self Reliance New York Federal Credit Union has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Self Reliance New York Federal Credit Union has $1.01 billion in assets with $174.7 million in equity, resulting in a capitalization level of 17.37%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$168.70 million|
|Loan Loss Allowance||$6.00 million|
|Unbacked Noncurrent Loans||$6.89 million|
|Real Estate Owned||$195,000|
|Historic Data - September 2012|
|Equity Capital||$165.17 million|
|Loan Loss Allowance||$6.19 million|
|Unbacked Noncurrent Loans||$6.89 million|
|Real Estate Owned||$505,000|
|Profit Margin - Quarterly|
|Net Interest Margin||2.33%|
|Return on Assets||0.96%|
|Return on Equity||5.75%|
|Interest Income||$25.47 million|
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|3.05%||$500||-||60 Month Certificate|
|Self Reliance New York Federal Credit Union Locations|
|Branch Office||108 2nd Ave||New York, NY 100038302|
|Branch Office||226 Uniondale Ave St. Vladimir Parish Center||Uniondale, NY 11553-1603|
|Branch Office||3201 31st Ave||Astoria, NY 11106-2408|
|Branch Office||225 N 4th St Holy Family Ukrainian Catholic Church||Lindenhurst, NY 11757-3729|
|Branch Office||6329 Route 209||Kerhonkson, NY 12446|