With app-based ridesharing services such as Uber and Lyft becoming more popular by the day, the taxicab industry has taken a real hit – and so have some credit unions that serve it. Specifically, four New York-based credit unions have seen their income decrease and provisions for loan losses increase in 2015 as the transportation industry they serve has struggled to survive economic and technological changes.

Those four cooperatives are the $179 million, 2,900-member Montauk Credit Union of New York City; the $271 million, 3,000-member LOMTO Federal Credit Union in Woodside; the $2.1 billion, 24,000-member Melrose Credit Union in Briarwood and the $692 million, 3,800-member Progressive Credit Union in New York City.

The credit unions have histories of lending to the New York City taxi industry, financing the purchase or leasing of taxi industry medallions (licenses to operate yellow taxis in New York City), or financing other loans with the medallions as collateral.