MCU to Open Arverne Branch

Municipal Credit Union (MCU) is coming to Arverne by the Sea. On October 30, MCU announced it has received all necessary regulatory approvals to open the new branch. The new location marks a key milestone in expanding essential financial services in an area that has long faced limited local banking options.

“As a homegrown New York City-based institution, we are proud to bring MCU to Far Rockaway and play a part in strengthening this community,” Kyle Markland, CEO of Municipal Credit Union said. “True to our mission—to help hardworking New Yorkers build better tomorrows—we look forward to serving our new neighbors and making a meaningful impact in the Rockaways.”

In recent years, many residents on the Rockaway peninsula have struggled with a lack of convenient, full-service financial institutions. The scarcity of nearby options has made it difficult for some individuals and families to access loans, open savings accounts, and manage their personal finances.

The Arverne by the Sea branch is expected to open in early 2026 and will be located in shopping plaza (6820 Rockaway Beach Blvd., where the old Chase location was).

“A great opportunity is finally on its way to Arverne!” Assemblymember Khaleel M. Anderson said. “I would first like to extend a special thank you to Kyle Markland and the Board of Directors of the Municipal Credit Union for venturing to call Arverne their new home. I also want to thank Senator Sanders and my colleagues for standing together in this effort to bring a financial institution to our beloved Arverne community. We’re looking forward to other opportunities in the near future! Welcome to your new home, MCU.”

Municipal Credit Union’s new branch will offer a full range of personal banking services, including checking and savings accounts, consumer and mortgage loans, financial counseling, digital banking, and more. MCU aims to empower local households by providing the support and tools they need to succeed.

“Access to quality financial services is essential for any community to thrive, and Far Rockaway has needed this for far too long,” Senator James Sanders Jr. said. “I am pleased to welcome Municipal Credit Union to our community and applaud their commitment to bringing vital banking services to the residents of the Rockaways. Economic justice starts with financial inclusion.”

Toni-Ann Sforza, chief operating officer, Municipal Credit Union, added, “We believe every community deserves access to trusted, affordable financial services, and we are excited to build lasting relationships with our members and future members in the Rockaways.”

Established in 1916 in New York City, Municipal Credit Union is the oldest credit union in New York. By providing a full range of financial services to municipal employees, police officers, firefighters, teachers, health care workers and others, MCU has grown to $4.7 billion in assets and 628,000 existing members. Today, MCU membership is available to anyone who lives, works, worships or attends school in New York City. MCU is an equal opportunity lender and deposits are insured to at least $250,000 by the National Credit Union Administration. To learn more, visit www.nymcu.org.