credit union industry financial services founded 1916 headquarters new york city new york united states key people kam wong president ceo products savings ; checking ; consumer loans ; mortgages ; credit cards ; online banking total assets 1.3 b usd 2008 website nymcu.org municipal credit union mcu is a state chartered credit union headquartered in new york city regulated under the authority of the national credit union administration ncua . mcu is metro new york s largest credit union . as of 2008 mcu had 1.3 billion in assets approximately 301 000 members and 13 branches . 1 history edit municipal credit union was founded in 1916 for municipal workers in new york city . john purroy mitchel new york city s mayor at the time wanted city employees to have alternatives to loan sharks and encouraged the chartering of the organization . on november 2 1977 the new york state banking department took over mcu for a brief time citing loan delinquencies and corruption of board members . 2 in 1986 following the collapse of hyfin credit union amidst charges of fraud and embezzlement hyfin was merged with municipal credit union . 3 a computer error in 2001 after the september 11 attacks allowed credit union members to withdraw amounts in excess of their accounts . in the month following the attacks 15 million was stolen from mcu atms by its own members . 4 118 members were charged in the thefts . 5 references edit mcu 2008 annual report . municipal credit union official website . mcu supports fdny and nypd 2009 hockey game in nassau county joseph a guagliardo of mcu presents check perlmutter emanuel . new york state is taking over municipal credit union in the city . new york times . 3 november 1977 . buder leonard . 7th suit to recover hyfin funds is filed . new york times . 18 october 1987 . saulny susan . credit union says a.t.m. users stole millions after 9 11 . new york times . 6 august 2002 . saulny susan . 118 charged in a.t.m. thefts after 9 11 . new york times . 19 june 2003 . external links edit official website joseph a guagliardo chief article retrieved from https en.wikipedia.org w index.php title municipal credit union & oldid 737479286 categories credit unions based in new yorkcompanies based in new york citybanks established in 1916hidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 3 september 2016 at 02 32 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view