By Karen Frantz
New York’s oldest credit union is opening its first branch in southern Queens.
Municipal Credit Union, which has over 325,000 members and holds $1.7 billion in assets, held a ribbon-cutting opening ceremony on Friday at its new branch at 134-66 Springfield Blvd.
The full-service branch is the second in Queens, with the other located in Elmhurst. It is also the first to offer an e-banking center where members can conduct bank transactions, check their accounts and apply for loans.
“I’m so pleased this branch is here,” said City Councilman Leroy Comrie (D-St. Albans), an MCU member, at the ceremony.
“I know that this branch will be heavily populated, well used, and that you will get new accounts coming in on a regular basis here,” he said.
MCU offers memberships to city, state and federal employees who work in the five boroughs, and other select industry groups are also eligible.
The credit union will also be able to provide its members with lower interest rates on loans than most regional financial institutions.
Reach reporter Karen Frantz by e-mail at kfrantz@cnglocal.com or by phone at 718-260-4538.
