New York City Mayor Michael Bloomberg was one of the dignitaries who helped open the new ERDA Federal Credit Union in the Queens section of New York. The community development credit union is the first CU to open in New York City in a decade.

The credit union is the most recent effort by the East River Development Alliance to help citizens in one of the lowest income parts of the city.

"Nearly 50,000 Queens households-many in public housing-don't have bank accounts, and one of the major reasons is a lack of access to local credit unions," said Mayor Bloomberg at the April 26 opening.

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