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 206th largest credit union in the nation. It was established in 1951 and as of December of 2013, it had grown to 37 employees and 14,739 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 email@example.com
Self Reliance Credit Union is the one of many Credit Unions which has to follow the rules and regulations applied to all Credit Unions by the law.
Almost all Credit Unions have strict limitations on membership. The same way as Teachers Credit Union is only limited for teachers, Navy Credit Union is only limited for military and their family - Self Reliance Credit Union membership is limited only for the people born in Ukraine or for the people born in former USSR (as Ukraine was the part of USSR until Ukraine got independence). When I opened my account with Self Reliance – my passport with the place and the date of birth has to be presented. And off course -nobody asked me if I am Jew, Muslim or Buddhist.
The inability to squeeze her into the institution which paid the better interest on the investment – does not give the right to lie so impudent and to accuse institution in racial discrimination.
All people of Self Reliance I ever had deal with – were exceptionally nice and certainly professional.
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.
Just wanted to add on the statement by ROSEDALA that Self Reliance Credit Union accepts only three national groups IS NOT CORRECT – membership is limited to people of Ukraine only and done by territorial characteristic. As western part of Ukraine was under jurisdiction of Poland before WW2 – people born on those territories before WW2 are also considered Ukrainians. After WW2 both parts of Ukraine were united. As Ukraine was the part of USSR before Ukraine got it independence, citizens of former USSR are accepted also because in former USSR Ukrainian national could live anywhere on former USSR territory.
The Self Reliance Ukrainian American Federal Credit Union was established in 1951 by a group of Ukrainian volunteers dedicated to help Ukrainian community under the sponsorship of the Self Reliance Association of American Ukrainians.
Credit Unions are not the banks and by the definition could limit their membership by professional, by national or by any other characteristic acceptable by American law.
There are many financial institutions only for native Americans and since I am not native American I can not be accepted even if I desperately want to join it, there is affirmative action only for minorities of USA and my son could not be advanced by this action during his college admission since he is not African American, there are Senior Citizen communities where people with small children could not be accepted and so on and so on.
There is the beauty of American Democracy – that all people of any group deserve their opportunities under American law.
Statement of ROSEDALA that Self Reliance does not accept Ukrainian Jewish people is so outrages and such blunt lie - this lady deserve to be sued for defamation. I am a Jew and I am the member of Self Reliance. Needless to say, that nobody ever interested not in my religion views, nor in my national roots and not only that this type of question absolutely impossible for a big financial institution on strictly discrimination ground and against American law, but because it is also just plain stupid.
Inability to join Credit Union is not good reason to show yourself such ugly way.
I also think that PAULEB, who also gives negative review to the Self Reliance based only on smear and fake review of ROSEDALA is not right.
ROSEDALA insulted great financial institution, all members of this institution, employees who are doing great work for Self Reliance Credit Union community on absolutely false pretense by calling all of us – anti-Semites (Jewish people are included).
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 December 31, 2013 Self Reliance New York Federal Credit Union had $6.89 million in non-current loans and owned real-estate with $176.62 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 3.90% 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 6.55% as of December 31, 2012 to 3.90% as of December 31, 2013, resulting in a positive change of 40.40%.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 $105.5 million, resulting in 14.07% 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 $1.03 billion in assets with $176.62 million in equity, resulting in a capitalization level of 17.20%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$170.55 million|
|Loan Loss Allowance||$6.07 million|
|Unbacked Noncurrent Loans||$6.89 million|
|Real Estate Owned||$0|
|Historic Data - December 2012|
|Equity Capital||$166.79 million|
|Loan Loss Allowance||$6.32 million|
|Unbacked Noncurrent Loans||$6.89 million|
|Real Estate Owned||$195,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.01%|
|Return on Assets||0.91%|
|Return on Equity||5.49%|
|Interest Income||$34.01 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|