LEGISLATIVE RESOLUTION honoring the Bay Ridge Federal Credit Union upon
the occasion of its 75th Anniversary

WHEREAS, It is the sense of this Legislative Body that the quality and
character of life in this great Empire State is indelibly enriched by
the faithful efforts of those financial institutions and their leader-
ship that devote their purpose to promoting economic vitality and
service the public need; and
WHEREAS, Attendant to such concern, and in full accord with its long-
standing traditions, this Legislative Body is justly proud to honor the
Bay Ridge Federal Credit Union upon the occasion of its 75th Anniver-
sary; and
WHEREAS, During the Great Economic Depression when most people were
struggling to find a better way of life, the Federal Credit Union Act of
1934 was passed which allowed groups of people to form not-for-profit
cooperatives to promote savings among themselves, and provide easier
access to credit for the members of their group; and
WHEREAS, Later that year, a small group of immigrants laid the founda-
tions of the Bay Ridge Federal Credit Union; today, 75 years later, it
serves the descendents and families of the original founders, together
with thousands of new members who joined over the years; and
WHEREAS, For 75 years the Bay Ridge Federal Credit Union has helped
people of modest means reach their financial goals with comfort and
respect; its members include working people, small business owners,
drivers and owners of NYC Taxicabs and "Black Car" limousines, govern-
ment employees, health care workers, immigrant families, senior citi-
zens, as well as professional people from many different fields; and
WHEREAS, In 1998 the Bay Ridge Federal Credit Union expanded its
mission, to become a community resource for Bay Ridge, Dyker Heights,
and Sunset Park, and help more people of modest means in the community
to have access to lower cost financial services; and
WHEREAS, It is the sense of this Legislative Body that when insti-
tutions of such noble aims and accomplishments are brought to our atten-
tion, they should be celebrated and recognized by all the citizens of
the great State of New York; now, therefore, be it
RESOLVED, That this Legislative Body pause in its deliberations to
honor the Bay Ridge Federal Credit Union upon the occasion of its 75th
Anniversary, fully confident that it will continue to enjoy the sparkl-
ing successes it has experienced thus far; and be it further
RESOLVED, That a copy of this Resolution, suitably engrossed, be tran-
smitted to the Bay Ridge Federal Credit Union.