The New York State Senate

J5762

LEGISLATIVE RESOLUTION commemorating the 100th Anniversary of the Munic-
ipal Credit Union on October 15, 2016

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 who 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 commem-
orate the 100th Anniversary of the Municipal Credit Union, to be cele-
brated with a Centennial Gala on Saturday, October 15, 2016, at the
Midtown Hilton Hotel, Manhattan, New York; and
WHEREAS, The Municipal Credit Union (MCU) has been serving the finan-
cial needs of its members since 1916; what began as one branch and 19
charter account holders has grown to 20 branches and more than 400,000
members; and
WHEREAS, The oldest credit union in New York State, MCU is also one of
the oldest and largest in the country; with branches throughout New York
City, Westchester and Long Island, its members also have access to the
credit union's large and growing ATM network; and
WHEREAS, In addition to its main office on Cortlandt Street in New
York, New York, MCU's 20 branches include: Bronx, Bronx 149th Street,
Brooklyn, Brooklyn Postal, Co-Op City, Coney Island, Eastside, East
Meadow, Elmont, Flatbush, Harlem, Manhattan, Melville, Nyack, Oceanside,
Rego Center, Ralph Avenue, Springfield, Staten Island and Yonkers; and
WHEREAS, MCU is an equal opportunity lender, and deposits are feder-
ally insured by the National Credit Union Administration (NCUA), a
United States government agency; and
WHEREAS, Remaining true to its mission, MCU continues to build life-
time quality financial relationships with each of its members by provid-
ing competitive products and excellent service; and
WHEREAS, With a variety of products and services to meet the growing
needs of its membership, MCU prides itself on being a not-for-profit
financial cooperative that adheres to the core credit union philosophy
of "people helping people"; and
WHEREAS, In addition to offering such services as share (savings)
accounts, checking accounts, money market accounts, CDs, and Wealth
Management and Investment services, MCU also provides personal loans,
auto loans, credit cards, mortgages, and insurance products through
partnerships with Credit Union service organizations; and
WHEREAS, MCU also prides itself on financial education, providing free
financial seminars to members on budgeting, credit, and first-time home
buying; and
WHEREAS, Dedicated to giving back to the communities where its members
live and work, MCU partners with various civil service groups, unions,
and local charitable organizations; this vital institution also places a
great amount of importance on youth education, giving significant schol-
arships annually to graduating high school seniors; and
WHEREAS, MCU's volunteer Board of Directors is the driving force
behind its growth and success, as well as the hard work and dedication
of its staff of more than 700 New Yorkers led by its President and CEO
since 2007, Kam Wong; and
WHEREAS, This Legislative Body looks favorably upon the strong role
which institutions such as the Municipal Credit Union play in strength-
ening the social and economic fabric of our communities through provid-

ing growth opportunities for citizens and businesses; now, therefore, be
it
RESOLVED, That this Legislative Body pause in its deliberations to
commemorate the 100th Anniversary of the Municipal Credit Union, and to
wish this financial institution continued success in its vital work on
behalf of its customers; and be it further
RESOLVED, That copies of this Resolution, suitably engrossed, be tran-
smitted to Kam Wong, President and CEO of the Municipal Credit Union,
and the aforementioned Municipal Credit Unions.