WHAT IS THE DIFFERENCE BETWEEN CREDIT UNIONS AND BANKS?
A credit union is a not-for-profit financial cooperative. Each credit union is chartered to serve only a select field of membership. Account holders are referred to as members and are part-owners and shareholders of the credit union. They share in the earnings of the credit union through their dividends and elect the Board of Directors who set policy and make decisions about the credit union.

Banks are different. Anyone can use their services if he/she has sufficient money to open an account. Account holders are customers. For the use of their money, customers receive interest on their funds. However, the bank's earnings are passed along to the stockholders of the bank. These stockholders elect a Board of Directors. Thus, the customers have no say about the management of the bank.

WHY SHOULD I JOIN NYM FCU?
It is a good idea to establish a financial relationship with the Credit Union. We offer a wide variety of products and services at a minimal cost. Our members are people like you. We pool your money together and use it to fund loans to our members. Unlike many banks, we do not require a high minimum balance to avoid costly fees. In fact, you must only maintain $5 in your share account and perform a transaction in your account once a year to avoid any maintenance fees. If eligible, you may be able to borrow money from us.

IS MY MONEY SAFE?
Accounts at NYM Federal Credit Union are Federally insured by the National Credit Union Administration (NCUA) up to $100,000.

HOW DOES MY DEBIT CARD WORK?
Our debit cards can be used worldwide. They can be used at any ATM displaying the NYCE, Cirrus or Mastercard logos. They can also be used at a point-of-sale terminal displaying the NYCE logo to pay for purchases and even to get cash back from many supermarkets and drug stores without making a separate trip to an ATM. They can also be used at any store accepting Mastercard credit cards.  When you sign for purchases, you earn rewards points that you can accumulate and redeem for great gifts.

HOW CAN I CONDUCT BUSINESS WHEN YOU ARE CLOSED?
Our audio response system is available 24 hours a day for account inquiries, transfers and to request checks for pickup.

Our home banking product is also available 24 hours a day.
We also accept requests by mail or fax.