Palisades Federal Credit Union
Palisades Federal Credit Union is headquartered in Pearl River and is the 56th largest credit union in the state of New York. It is also the 1,238th largest credit union in the nation. It was established in 1941 and as of June of 2024, it had grown to 34 employees and 13,521 members at 4 locations. Palisades Federal Credit Union has a B health rating.
Field of Membership Restrictions
Membership in Palisades Federal Credit Union is open to individuals who live, work, worship, volunteer, or attend school in Rockland County (NY) or Bergen County (NJ). New York State employees who work in any of the five New York City boroughs also qualify for membership, as do immediate family members of current members.
See current membership details
Related Posts
Wonderful Experience!
My wife and I recently had the pleasure of interacting with Ms. Ellen Brooks at Palisades Credit Union while going through the process of obtaining a home equity loan. I must say, my experience with Ms. Brooks and the entire team at PCU was absolutely fantastic.
Initially, my wife and I had very limited knowledge regarding the complexities involved in securing a home equity loan. However, this seemingly daunting task became pleasantly straightforward, thanks to the patience, expertise, and exceptional guidance provided by Ms. Brooks.
Throughout the entire process, Ms. Brooks displayed an immense level of professionalism and commitment to ensuring that we fully understood every step involved. She patiently answered all our queries and addressed any concerns we had, making us feel comfortable and well-informed at every turn.
Moreover, Ms. Brooks consistently went above and beyond to assist us, offering valuable insights and advice regarding the loan application process. Her personalized approach made us feel that our financial well-being was her top priority.
I cannot emphasize enough how grateful we are to have had the opportunity to work with Ms. Brooks and Palisades Credit Union. The remarkable level of customer service we experienced exceeded all our expectations, and we are exceedingly satisfied with the outcome.
Not only did Ms. Brooks facilitate a seamless loan application process, but she also ensured that we were provided with the most favorable terms and rates available. This level of dedication and effort truly sets Palisades Credit Union apart from other financial institutions.
With complete confidence, I highly recommend Palisades Credit Union to anyone seeking a home equity loan. The exceptional assistance provided by Ms. Brooks and the entire team proved invaluable, and I am positive that others will have a similarly great experience.
In conclusion, if you are looking for a bank that goes the extra mile, showing utmost care, patience, and expertise throughout the entire loan application process, Palisades Credit Union, and in particular, Ms. Ellen Brooks, are the perfect choice.
Palisades Federal Credit Union At New City, NY
Very friendly and very efficient service. Good rates on money market accounts too.
Not Trustworthy
Do not believe what they tell you. A year ago we obtained a heloc with a 12 month promotional rate. We were told at the end of the 12 months we could just extend the amount of the loan and would be able to qualify for the new promotion. After a year our rate went from 4% to over 10% (no yearly cap I guess). Called up our PCU broker but was unable to talk to her. Tried multiple times but was unable. Someone else from the bank told me I had to work with them instead, even though the person we previously closed with was at the bank. After explaining everything he had us apply for a new loan. After submitting everything required, sometimes multiple times, and then following up a couple of times since we received zero feedback, we were told (around 6 weeks after starting the process) that we were not eligible for the HELOC. The emailed explanation made no sense since it went against everything we were originally told. So now we are stuck paying 10.5% interest and have to start the process over with a different bank.
Do not believe what they tell you. They want your business and will promise you anything to get it. By the time you find out you were not dealt with honestly there is nothing that can be done. We truly regret doing business with Palisades Credit Union and now will be bleeding money till we are able to sort out a new HELOC.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 4480 |
| Year Chartered | 1941 |
| Employees | 34 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.07% |
| Return on Equity - YTD | -1.01% |
| Annual Interest Income | $5.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $207.7MM$201.7MM |
| Loans | Q2 2024vs Q2 2023 | $157.8MM$159.3MM |
| Deposits | Q2 2024vs Q2 2023 | $181MM$182.8MM |
| Equity Capital | Q2 2024vs Q2 2023 | $13.5MM$13.1MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $1.3MM$1.4MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $1MM$878K |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |