N.Y. CU Gets Name and Charter Change

SCHENECTADY, N.Y.-First Teachers Federal Credit Union was approved to serve a five-county community and has changed its name to First New York Federal Credit Union to reflect that change. First New York has adopted the community encompassing Albany, Schenectady, Saratoga, Rensselaer and Schoharie counties in New York, according to an announcement on the credit union’s Web site (www.firstteachers.org). First New York now has a potential field of membership of 835,000, the credit union’s Director of Marketing Walter Everhardt said. Initially, the credit union was primarily an educational credit union, but prior to the conversion had added around 80 select employee groups, he added. In explaining the FOM expansion, Everhardt said, “We were looking at the possibly of expanding and adding new services and we thought we would want to expand our services to other people.” First New York plans to add new branches and ATMs in the community. Also in the announcement, the credit union emphasized that this is not a merger. “We haven’t been taken over. Or sold. We’re the same financially solid, stable, member-owned organization. With the same board of directors, the same management and staff, office locations and phone numbers, the same smiling faces and the same great service our members have come to expect from us,” it read. First New York was founded in 1937.