2013 Report of the Board of Directors

A Unique Financial Institution

 

        Self Reliance (NY) Federal Credit Union is a professionally managed not-for-profit and member-owned financial institution serving the Ukrainian American community. Unlike other financial institutions, we return excess earnings to our members in the form of lower interest rates for loans, higher yields on savings and investment accounts, and by adding new financial products and services.

        As a member, your account with Self Reliance New York Federal Credit Union is federally insured up to $250,000 by the National Credit Union Administration, the strongest insurance fund among all federally insured institutions. In addition, if you have an Individual Retirement Account at our credit union, it is also insured up to $250,000. 

 

A Brief History

 

        The Self Reliance New York Federal Credit Union, established in 1951, by a group of volunteers dedicated to the cooperative philosophy of "people helping people", under the sponsorship of the Self Reliance Association of American Ukrainians, is currently the oldest and largest Ukrainian Credit Union in the world. It has over 14,600 members and assets exceeding 920 million dollars.

        Self Reliance New York F.C.U. exists for its members’ benefit, constantly striving to:

  Foster the ideals of cooperation and promote the financial well being and security of its members and through them the Ukrainian community; Promote thrift, provide credit and quality financial products and services to meet members’ demands, in a professional, confidential and courteous manner; Safeguard its members’ assets by investing funds in a safe and sound manner that will strengthen its capital growth formation while providing a strong base for growth

 

        The Credit Union is run by a Board of Directors who are elected by the members at an annual membership meeting. Each member of the Credit Union has one vote, regardless of the amount in his or her account.

        The primary goal of Self Reliance is and has always been – serving our members in a courteous, professional and confidential manner. We always welcome new members and are ready to service all their financial needs. We hope to become your premier financial service provider.

 

Joining Is Easy!

 

              To become a member at Self Reliance (NY) Federal Credit Union one must first qualify for membership at the Selfreliance Association of American Ukrainians. There are branches of the  Association in New York City at 98 Second Avenue, New York, in Uniondale and Kerhonkson New York.  An initial minimum deposit of $50.00 is required to open a basic share account, plus a $10.00 membership fee to the Selfreliance Association.   Having a share account makes you immediately eligible for the many benefits of credit union membership.

        You’re welcome to remain a SRNYFCU member for life, even if you move. Access to credit union financial products and services are available through direct deposits, by mail, fax, phone, NetTeller Home Banking and at thousands of worldwide ATMs (automated teller machines). Once you join, your family members may also apply for lifetime membership. Eligible family members include your spouse, children, parents, grandchildren, grandparents, brothers, sisters, aunts, uncles, nieces, nephews, first cousins and in laws.

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  Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government
  National Credit Union Administration, a U.S. Government Agency