Banking Services

The New York City Housing Authority’s (NYCHA) Office of Resident Economic Empowerment and Sustainability (REES) can help connect NYCHA residents to free and low-fee banking services close to home. Community Development Credit Unions are like banks, but they have members who cooperatively own the credit union, rather than shareholders, who own shares of a bank. Credit Union members also vote on important decisions. REES partners with various Community Development Credit Unions that specifically focus on addressing the needs of low-income communities.

Did You Know…

NYCHA residents can pay rent at many of our partner credit unions.

Facts about Credit Unions

• Government regulated and federally insured just like a bank
• Offer products and services similar to a bank
• Usually have lower fees and higher interest rates on savings accounts
• Democratically governed – one member one vote
• Provide services to meet the financial needs of their members and their community

Find a local REES partner credit union to discuss your financial needs.