NEW YORK — A former NCUA examiner and economic development specialist has been hired by the Financial Service Centers of New York, the New York association of check cashers, to further and deepen the connections between New York's check cashers and credit unions.
Check cashers already have relationships with three New York credit unions: the $84 million Actors Federal Credit Union, the $11 million Bethex Federal Credit Union, and the $7.1 million Neighborhood Trust Federal Credit Union.
The former examiner, Gerald Goldenbroit, believes that other CUs, particularly smaller ones, could benefit from similar arrangements. Under the terms of the relationship, called PayNet, members from the participating credit unions can make deposits to their CU accounts at area check cashers, almost all of which have longer hours and more facilities than even shared branch outlets.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
