Mission

Brooklyn Coop’s mission is to further wealth building, resilience, and opportunity in the communities we serve by offering access to fair and affordable financial services.

What We Do

Brooklyn Cooperative Federal Credit Union is a certified CDFI that began operations in January 2001. Our mission is to increase opportunity and resiliency in the communities we serve by offering fair and affordable financial services. Currently we have two branches in Central Brooklyn, among New York City’s most under-served neighborhoods, home to almost 300,000 people, more than 95 percent of whom are minorities.
The range of services we offer is uncommonly sophisticated for a community financial institution:
• a simple savings account with direct deposit and access to online banking, with a $5 minimum balance and a monthly fee of $1
• a checking account with an ATM/debit card and no overdraft capacity, with no minimum balance and a monthly fee of $4
• consumer, automobile, small business, and housing loans, including 1st and 2nd mortgages, home improvement loans, coop and condo loans
• low-cost small business tax preparation
• free foreclosure prevention counseling
• free tax preparation for individuals and families under the VITA program; we are Brooklyn’s largest non-commercial tax preparer, filing 4,000 tax returns annually

Brooklyn Coop holds $20 million in assets and is comprised of over 5,700 low- and moderate-income members. We are SBA-approved small business lenders and well-known in New York City for our experience with serving local small businesses of all sizes. Our $12 million loan portfolio is underwritten and held entirely in-house; over half of our portfolio is housing-related and one-third is dedicated to small business lending.