Melrose Credit Union

Melrose Credit Union was established in 1922 to provide financial resources for individuals and small business owners. Through the Credit Union, community residents were afforded the means to pursue their American Dreams. The credit union was placed into conservatorship early in 2017. The state said Melrose was run in an "unsafe and unsound" manner, a nod to its heavy taxi-loan portfolio. Founded in a s mall storefront in the Bronx, NYThe CU is now located in the Briarwood neighborhood in the New York City borough of Queens. It currently has $1.2 billion in assets, down from $1.9 billion just two years ago. Melrose Credit Union operates under the supervision of the New York State Department of Financial Services (DFS).