Press
Federation and member credit unions participate in launch of IDNYC
(January 12, 2015) — Federation CEO Cathie Mahon joined New York City Mayor Bill de Blasio and Nisha Agarwal, Commissioner for the Mayor’s Office of Immigrant Affairs, along with other city officials, in the launch of IDNYC, a municipal ID that allows New Yorkers to connect with a variety of programs and services, including financial services.
The Federation provided extensive advocacy and assistance to ensure that credit unions could participate in this historic initiative by accepting the IDNYC as valid identification. The NY Credit Union Association partnered with the Federation in hosting meetings and webinars in which City officials described the new ID. NCUA provided the Federation with a guidance letter acknowledging that the municipal ID as outlined satisfied requirements of an unexpired government-issued ID for Customer Identification programs.
Several Federation members are among the credit unions participating in the launch including Bethex Federal Credit Union, Brooklyn Cooperative Federal Credit Union, Lower East Side People’s Credit Union, Melrose Credit Union, Municipal Credit Union, Neighborhood Trust Federal Credit Union, Urban Upbound Federal Credit Union and University Settlement Federal Credit Union.
These credit unions will accept the Municipal ID as the primary form of identification for opening a savings or checking account. “We have worked closely with the National Federation of Community Development Credit Unions to ensure that credit unions can include the municipal ID in their Customer Identification programs,” said Commissioner Agarwal at a press conference announcing the program.
“The Federation is delighted to be working with IDNYC to connect New Yorkers with the safe, affordable financial services that credit unions provide. Starting today, New Yorkers who may have previously been unbanked can open accounts, begin to grow and protect their assets and access credit at the fair rates and in the safe environment of a credit union,” said Cathie Mahon.
IDNYC is available to all New Yorkers, but is of special significance to the 825,000 unbanked people who live in New York, many of whom are immigrants. When explaining why New York developed the Municipal ID, Mayor de Blasio said, “We are adamant that people cannot and should not live in the shadows. We don’t want any of our fellow New Yorkers to feel like second-class citizens… and this ID addresses substantially the notion that we all matter.”
To learn more about IDNYC visit: www1.nyc.gov/site/idnyc/index.page