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Bethex Federal Credit Union


Founded in 1970, Bethex Federal Credit Union is a non-profit cooperative institution that offers affordable financial services to its members. Mid and low income persons from the City of New York are eligible to become members.


Like other American credit unions, Bethex is owned by its members, who also control it by electing the board of directors on the basis of one person, one vote, regardless of the amount of money saved.


On the savings side, Bethex FCU offers regular savings accounts, easy access with ATM/VISA debit card, various IRAs (Individual Retirement Accounts), children’s saving accounts and club accounts for specific purposes such as holidays or investment. On the loan side, Bethex offers mortgages, business loans, vehicle loans, consumer (personal) loans, credit cards and other lines of credit. Besides this, Bethex also offers free financial counseling in 6 languages for people with financial problems.


Savings are insured up to $ 250,000 per depositor by the National Credit Union Administration (NCUA), an agency of the US federal government.


Bethex has over $ 28 million in assets and over 5,000 members.


Surveys of customers at banks and credit unions have consistently shown a significantly higher customer satisfaction rate with the quality of service at credit unions.


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Type of initiative Other (specify): Community Development Financial Institution (CDFI)
Field of work Financial services
Date of commencement 1970
Founder(s) Joy Cousminer
Legal form
Continent North America
Country United States
City Bronx, NY
One or several keywords that describe your initiative federal credit union, member ownership, financial services to low-income groups
Publications Biannual newsletter
More information

Contact person(s)

Jessica Caraballo


Contact information

Name Bethex Federal Credit Union
Address 20 E. 179th Street, LL
Zip/postal code 10453
Place Bronx
State/province NY
Country United States
Phone +1 718 299 9100



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