Membership in Progressive Credit Union is open only through being recommended by a current member.
See current membership details
I have been with PCU for a good ten years. The benefit of being with them is that they tend to offer a higher rate of interest on CDs. What I don't like about them is that they only permit three ways to receive your dividends: by check, reinvest or place in your cash account. They do not do ACH transactions. However, your financial institution can do ACH transactions with them, but they discourage you from doing this. It would be so much easier if Progressive grew up and entered the 21st Century and enabled ACH dividend transactions to one's bank or financial institution. In many ways, they are an old-fashioned paper pushing company.
This is unfair, an organization exclusive only to its members. Then to add salt to the wound you have to seek out a member to give you a recommendation in order to join; you can't be serious. How are people supposed to find these people. Oh wait, you can't it's exclusive. See this is why the United States is in the shape that it is in because of the selfishness of people in this day and age.
Health ratings for Progressive Credit Union have been suspended due to the uncertainty around the large exposure it has to the New York taxi industry which is under pressure from app-based ridesharing services such as Uber.
|Return on Assets - YTD||-17.05%|
|Return on Equity - YTD||-61.79%|
|Annual Interest Income||$9.5MM|
|Assets and Liabilities|
|Assets||Q2 2017vs Q2 2016||$511.5MM$634.7MM|
|Loans||Q2 2017vs Q2 2016||$485.6MM$607.5MM|
|Deposits||Q2 2017vs Q2 2016||$277.4MM$305.2MM|
|Equity Capital||Q2 2017vs Q2 2016||$145.8MM$229.4MM|
|Loan Loss Allowance||Q2 2017vs Q2 2016||$68.7MM$62.3MM|
|Unbacked Noncurrent Loans||Q2 2017vs Q2 2016||$59.5MM$48.6MM|
|Real Estate Owned||Q2 2017vs Q2 2016||$0$0|
Rates for Progressive Credit Union are currently being reviewed.
|Progressive Credit Union Locations|
|Branch Office||131 W 33rd St Ste 700||New York, NY 10001-2908|