Rise Now Federal Credit Union (In Organization)

Many of Flushing's residents, especially low-income and seniors, have limited English language proficiency and limited access to basic consumer loans and financial services offered by mainstream banks. As a consequence, many Flushing residents pay predatory fees to cash their checks; complete money transfers; and send remittances. 

RISE FCU's goal is to encourage savings among its members through its Share Savings Account, individual counseling, and group financial educational workshops. Once chartered, RISE FCU will offer loans to credit union members at a fair and reasonable rate and will also provide access to cashier's checks, money orders, and remittances services for minimum fees and delivered in a culturally and linguistically appropriate manner. 

Surveys conducted by Rise Now have found tremendous support for the formation of a credit union to serve the Greater Flushing area as well as Asian New Yorkers. Many of the respondents have expressed a willingness to join and make deposits to support its operations. 

Out of the 52 surveys collected at the Celebrate Immigrants Fair and Flushing Health Fair in Flushing, 38 respondents (73%) said they would be willing to join the credit union as members. From the 52 respondents, a total of $46,600 of potential deposit was registered.