New York University Federal Credit Union

Overview / Commentary
726 Broadway Ste 110
New York, NY 10003

New York University Federal Credit Union is headquartered in New York and is the 104th largest credit union in the state of New York. It is also the 2,138th largest credit union in the nation. It was established in 1982 and as of December of 2023, it had grown to 14 employees and 9,317 members at 2 locations. New York University Federal Credit Union's CD rates are 6X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership is open to employees, students, faculty, alumni, retirees and staff of New York University,
See current membership details

Reviews (8)

An Excellent Experience Consolidating Debt

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My husband and I met with Mira Ness the CFO of NYUFCU at lunchtime. We wanted to consolidate our debt and, after checking banking rates, decided to take advantage of the NYU credit union benefit.

Our experience was nothing short of impressive and wholeheartedly met with great success. We had done our homework and arrived with all of the details for the accounts that we wanted to consolidate. Mira was immediately responsive and attentive. I had a million questions and she had a million answers, with detailed back-up. Mira handled this matter with efficiency and tact. Within a ½ hour of meeting her, we were provided with competitive rates, a plan and resolution. By the time I returned to my midtown office (a 20 minute train ride), checks had been cut and sent out to the consolidated accounts on our behalf. When we calculated the time spent on the entire transaction, we were both pleased with the efficiency of the process. We have the added carrot of receiving excellent rates, which compounds into more dollars saved.

Thank you Mira Ness for your efficiency and your dedication to customer service excellence, great rates and the good nights’ sleep that ensued!

Great Experience, Fast And Professional

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I went to the NYU Credit Union after my bank  ran me through the mill about a loan against my house. I'd paid off two loans to that bank  and have a very good credit rating. During that loan process, I dealt with five different people, each of which didn't know what the other had done. It was humiliating. I decided to try the NYU credit union. They were fast and professional and I got the loan in 10 days.

I don't believe in on-line reviews. People can say anything. You don't know who's talking. The cloak of anonymity makes cowards into experts and heros. But the big banks say what they want too. And I remember  2008, when the big banks dragged this country into near financial collapse. I remember the  fancy excuses and long talk while thousands of heartbroken, hard working people lost their homes. That's what drew me to the credit union too.

Getting this loan was a smooth and painless experience.  Mira Ness and her staff were very effecient, professional and fast moving. I got the loan I want with minimum fuss in ten days. They walked me through the process. They patiently explained everything that needed to be done. The interest rate was as competitive as my big bank. I am very pleased with it, and plan to tell my family and friends about the benefits of letting their money work in ways that benefit the people, as opposed to the very few.

I recommend this credit union highly and without reservation.

James McBride 

NYU FCU - Smooth Sailing With My Refinance

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I was a mortgage broker for many years and now overseeing a small banking institution.  NYU FCU's processing of my home refinance was executed without a hitch; from the application to closing, the process and the people were excellent.  This is coming from someone who has experienced the issues that often arise in todays mortgage application process. 

NYU FCU reviewed the initial application, we had a few exchanges of documents and questions, locked the rate, appraisal and shortly there after we were ready to schedule. Took about 2 months - typical.  I spoke to representatives no more than twice over the course of the loan review process. The key to a successful experience with mortgage applications is cooperation and understanding on both ends; provide the lender exactly what they ask for, and HELP the underwriter understand your financial and personal situations; do not leave it up to the underwriter to figure it out. 

Rate was excellent, fees were nothing out of the ordinary.  Prior to closing we had a clear understanding of the figures and it took no more than 45mins to close.   

Thank you

Anthony G.

NYUFCU Four Stars In My Book

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I will admit, several years ago when I joined New York University Federal Credit Union, I had some issues with the lack of services. That has dramatically changed now and I can see services here at NYUFCU that I don't see with large banking institutions. I love the online bill pay services, including payments to individuals, Smartphone services, and a few other tools which make banking a breeze no matter where I am...

Reciently, along with many others I was a victum of, "Super Storm" Sandy, and was without power and heat for a month. I lost my car in the storm as well. My insurance would not pay, I was denied help from FEMA, SBA denied me a loan and I was in rough shape.

With the help of Mira Ness and her team at New York University Federal Credit Union along with The New York Credit Union Foundation I was awarded a grant to help me with the loss. Now that's something I don't think ANY mainstream bank or financial institution would do for a customer.

Thank you Mira for all your help...

Was Able To Get The Help I Needed

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I wanted assistance getting my credit under control. I applied for a debit con loan and got the help I needed. The staff I worked with were kind and knowledgeable.

Lousy Customer Service From Mineola Rachel M.

Rachel Mahadeo at NYU LI is the nastiest customer service representative I have EVER encountered. The "credit union" here in Mineola calls today to tell me I authorized a payment in Feb. during their merge but they FORGOT to take it out of my acct. Now 3 months later, she so rudely explains that it was recently discovered and they will be taking the funds out of my acct. So... she expects me to say sure, she offers no proof, no returned or cashed check, but go right ahead take my money, this coming from a "bank" who's phones ring for a million times and than, the voice mail is full, whom on multiple occasions I had to find someone to email from the "bank" just to ask them to contact me. My cc is constantly being block even though I owe nothing on it...Beware this "credit union" location is a joke and I'll be closing my accts. now. Too laid back with other peoples money. Maybe Rachel could use a little customer service etiquette. I will be following up with the credit union in the city, I think Rachel should be reprimanded for disgusting attitude.

Really Disappointing

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I'd very much prefer to use a credit union over a bank but had to switch back because while I don't like my bank, it is at least more convenient.

This credit union offers extremely poor customer service from both low-level staff and the people in charge; I never encountered anything but errors and poor communication from them.  In addition, there are quite a number of hidden fees. 

It's really too bad there is not a better alternative.

NYU Federal Credit Union - Slow, Frustrating, 19Th Century Banking Practices!

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I joined the credit union in response to the backlash against the larger, commercial banks, at the height of the Occupy movement last year. It's been frustrating and often infuriating to deal with this campus branch. They still use ancient banking hours, 9-3pm, which, given our 24hr financial needs, does not make good business sense. While the ATMs are accessible on and near NYUs campus, outside of Manhattan, there are fewer interlinks, so you're still forced to use the commercial bank ATMs and are charged fees anyway. Recently I needed them to locate a disputed electronic payment and they treated me like I was imposing tasks that had never been required of a bank. Once you're tagged for being "demanding" of them, i.e., provide professional and curtious service, they tag you a trouble maker, keep you on hold when you call, or pass you around to several reps, or take days to followup with requests. I'm running back to TD Bank or Chase!! At least they pretend to be interested in you as a customer.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. New York University Federal Credit Union has a relatively low asset base.

Health Grade Components

NCUA #23958
Year Chartered1982
Primary Regulator
Profit Margin
Return on Assets - YTD1.96%
Return on Equity - YTD11.82%
Annual Interest Income$3.6MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$70.9MM$71.8MM
LoansQ4 2023vs Q4 2022$41.2MM$32.9MM
DepositsQ4 2023vs Q4 2022$58.4MM$60MM
Equity CapitalQ4 2023vs Q4 2022$11.8MM$10.1MM
Loan Loss AllowanceQ4 2023vs Q4 2022$928K$853K
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$391K$564K
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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New York University Federal Credit Union Savings Account Rates

0.50%$50-IRA Share Account
0.25%$50-Holiday Club Account
0.25%$250-Share Savings Account
0.25%$50-Dream Club Account
0.25%$250-Business Savings

New York University Federal Credit Union Money Market Rates

0.25%$1k$250kMoney Market Account

New York University Federal Credit Union CD Rates

5.25%$1k-6 Month CD
5.15%$1k-12 Month CD
4.06%$1k-1 Year Lucky Saver CD
3.03%$1k-24 Month CD

New York University Federal Credit Union IRA Rates

5.09%$500-1 Year IRA
4.58%$500-3 Year IRA
4.06%$1k-2 Year IRA
3.96%$500-5 Year IRA

New York University Federal Credit Union Locations
Branch Office726 Broadway Ste 110New York, NY 10003-9616
Branch Office194 1ST STMINEOLA, NY 11501-4024

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