Credit Union

Serving the St. Mark's Community since 1943

Programs:

Regular Saving
Christmas Club
Goal Saver Loan
Church Pledge Loan
Consumer Loan

The St. Mark's Credit Union was organized on May 17, 1943. About a month after its founding, 18 applicants for membership was approved. By the end of July the Credit Union approved 36 new members, had a share balance of $95 and $68 cash in the bank. No loans had been made - and none would be made, the Board of Directors decided, until the Credit Union had a bank balance of at least $200 to avoid service charges. By the end of that year the Credit Union grew to 84 members and a bank balance of $800. Today the Credit Union has over 200 members and has loaned over $1 million.

St. Mark's Federal Credit Union envisions serving the entire community of the United Methodist Churches here in Harlem. Here they will be able to improve their net worth through saving and borrowing at cheaper rates. As we grow we look for new and innovative ways to serve our members.

Over the years, the Credit Union has been staffed by all volunteers who shares their time, talent and energy in maintaing and developing our Credit Union to meet the
needs of our membership. Persons serve the Credit Union in such capacites as Credit Committee, where loan application are reviewed for approval, Supervisory Committee - oversees internal controls and audits, Treasurer and assistant - responsible for the daily operations of the Credit Union and preparation of financial reports and Board of Director - the policy makers. All members undergo training.

Along with the Credit Union League, seminars are held here at St. Mark's that benefits small credit unions within the Harlem Community.

We encourage all our members to join the Credit Union in order to enjoy all of its benefits.