Bethex Federal Credit Union was organized in 1970 by Joy Cousminer, currently the President and CEO. It is a respected financial institution with over $22,000,000 in assets and serves over 5,000 members. Its lending pool is enlarged by “0” to low-interest non-member deposits from banks and foundations.
Bethex FCU is a Community Development Financial Institution (CDFI) with a low income designation. Services are available to eligible low to moderate income members throughout the City of New York.
Bethex FCU is a democratically run, not-for-profit financial institution. It has a volunteer Board of Directors, elected by the members at an Annual Meeting, on a one member, one vote basis. Bethex is a federally chartered cooperative, and members’ shares (savings) are insured up to $250,000 per depositor by the National Credit Union Administration (NCUA), an agency of the federal government.