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Overview / Commentary
212-695-8900
131 W 33rd St Ste 700
New York, NY 10001-2908

Field of Membership Restrictions

Membership in Progressive Credit Union is open only through being recommended by a current member.
See current membership details

Related Posts

2-Year CD, 2.32 % APY - 5/23/2017

Nice rate - only problem: "To become eligible for membership, all new members must be referred by a current PCU member." According to NCUA stats there are 3,338 members, so perhaps using the "six degrees of separation" theory, you might be able to identify a current Progressive CU member.

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Reviews (3)

Progressive Is Somewhat Rigid And Backward

Posted by: Jeffrey | Mar 8, 2017

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.

It's Unfair: Exclusive Only To Members

Posted by: Anonymous | Aug 9, 2010

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.

They Don't Allow Non

Posted by: Anonymous | May 7, 2010

they don't allow non-members to join, you have to be sponsored by a member.  good luck finding a member.



Health

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.

Overall
NCUA #60064
Year Chartered1918
Employees34
Primary Regulator
Profit Margin
Return on Assets - YTD-17.05%
Return on Equity - YTD-61.79%
Annual Interest Income$9.5MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$511.5MM$634.7MM
LoansQ2 2017vs Q2 2016$485.6MM$607.5MM
DepositsQ2 2017vs Q2 2016$277.4MM$305.2MM
Equity CapitalQ2 2017vs Q2 2016$145.8MM$229.4MM
Loan Loss AllowanceQ2 2017vs Q2 2016$68.7MM$62.3MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$59.5MM$48.6MM
Real Estate OwnedQ2 2017vs Q2 2016$0$0
Rates

Rates for Progressive Credit Union are currently being reviewed.

Locations


Progressive Credit Union Locations
Branch Office131 W 33rd St Ste 700New York, NY 10001-2908