The Van Cortlandt Cooperative Federal Credit Union was organized by Sidney Stahl, the first Managing Director of the New York State Credit Union League, and was federally chartered in March 1936. Its purpose was to provide a safe and convenient place for Cooperators of the Amalgamated Housing, to save and borrow. Many of the charter members also belonged to the Amalgamated Clothing Workers Union which recognized the need to work together to accomplish common goals. As additional housing cooperatives were built in the community, residents and employees of the Park Reservoir, Mutual, Orloff Towers, and Cannon Heights Cooperatives were added to our field of membership.
Over the years, we added the Amalgamated Nursery and the Ampark Neighborhood schools’ faculty, students, and parents, growing to serve over 3,500 members in our community. We also adopted a new slogan that reflects our increased focus on the credit union principles “Not for Profit, Not for Charity, but for Service”…. “Your Friendly Credit Union by the Park.”
In October of 2009, our credit union moved to a new larger location within the Amalgamated Cooperative which enabled us to extend our hours and provide more security for our members. While we continue to put our members first, these changes have allowed us to truly become a community credit union, further strengthening our financial position and allowing more people to become eligible for membership. They also ensure the long-term stability and soundness of
the credit union. As we continue to grow, we will be able to provide all the financial products and services our members’ need, while maintaining the traditional values that credit unions represent.