MCU
MCU

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A Financial Education Web Site for Kids and Teens.

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MCU

MCU

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Our History

MCU has been serving the financial needs of hard working people since opening for business in 1916. We were originally chartered as an outgrowth of concern of then New York City Mayor, John Purroy Mitchel who wanted city employees to have a way to save at reasonable rates and a low cost borrowing alternative to loan sharks.


At the end of our first year of incorporation, our nineteen charter account holders had combined deposits of $570; today we have over 350,000 members and over $1.8 billion in assets.

We started out with one branch in the Municipal building using handwritten ledger entries. Today we offer online transactions and loan applications at the speed of the internet, sixteen branches, and access to funds 24/7 at our large network of MCU ATMs.