LEGISLATIVE RESOLUTION commending Municipal Credit Union (MCU) upon the
occasion of its Centennial Anniversary in the year 2016

WHEREAS, It is the intent of this Legislative Body to recognize and
acknowledge certain exemplary businesses and organizations that continue
to provide superior products and services, and through their work have
become beacons of prosperity within the community; and
WHEREAS, Attendant to such concern, and in full accord with its long-
standing traditions, this Legislative Body is justly proud to commend
Municipal Credit Union (MCU) upon the occasion of its Centennial Anni-
versary in the year 2016; and
WHEREAS, Municipal Credit Union was founded in 1916 by New York City
Mayor John Purroy Mitchel as a financial institution for the city's
civil service employees that provided a safe alternative to predatory
loan-sharks; the Mayor recommended establishing a not-for-profit credit
union that allowed city workers to save and borrow with reasonable
interest rates; and
WHEREAS, MCU opened with 19 members and $573.68 in assets, and has now
grown to serve more than 400,000 members with over $2.4 billion in
assets; and
WHEREAS, Municipal Credit Union, under the leadership of its esteemed
Board of Directors, continues to adhere to the core philosophy of
"people helping people" that allows it to provide valuable services to
its members and the New York City community; and
WHEREAS, MCU offers its members competitive rates and excellent
service on savings and loan products, along with financial education and
other resources to help members achieve their financial dreams and
goals; and
WHEREAS, Municipal Credit Union is and has always been a strong
supporter of New York City and New York State's civil service organiza-
tions, workers unions, elected officials, and other governmental agen-
cies; and
WHEREAS, It is the sense of this Legislative Body to publicly recog-
nize those businesses and organizations which have achieved notable
success in this great Empire State; now, therefore, be it
RESOLVED, That this Legislative Body pause in its deliberations to
commend Municipal Credit Union on their Centennial Anniversary in the
year 2016; and be it further
RESOLVED, That a copy of this Resolution, suitably engrossed, be tran-
smitted to Municipal Credit Union.