This week in the New York Minute, we have multiple recognitions! From individual professionals to organizational fundraising efforts, and more, there are plenty of congratulations to go around. Then, don’t forget to register for the 2026 Scholarship Program, and mark your calendar for Posh’s next webinar. Get the latest industry-wide updates in our weekly blog.

Rochester Credit Union Leaders Named to Power List for Banking & Finance

The Association congratulates the Rochester-area credit union professionals recognized on the Rochester Business Journal’s 2025 Power List for Banking & Finance! This year’s honorees include:

• Bob McFadden, Finger Lakes FCU
• Faheem Masood, ESL FCU
• Jeff Bocach, Advantage FCU
• Laurie Baker, The Summit FCU
• Pamela Heald, Reliant Credit Union
• Tom Dambra, Family First of New York FCU

These distinguished leaders have guided their institutions and members through extraordinary economic change—navigating pandemic disruptions, inflation, rising rates, and shifting regulations—while driving innovation and financial inclusion in the Rochester community. The Power List celebrates those who exemplify stability, leadership, and service during a period of tremendous uncertainty. The Association extends warm congratulations to all the honorees for their outstanding contributions to New York’s credit union movement.

Teachers FCU Raises $197,000 for Making Strides Against Breast Cancer

Teachers Federal Credit Union once again demonstrated its commitment to community and compassion, raising an incredible $197,000 for the American Cancer Society’s Making Strides Against Breast Cancer campaign. The funds were collected through the dedication of Teachers’ teammates and the generosity of community supporters across Long Island.

More than 80,000 participants joined this year’s Making Strides walk at Jones Beach, including nearly 300 Teachers FCU employees walking side-by-side with survivors, caregivers, and advocates. As a proud sponsor of the event, Teachers FCU continues to fund lifesaving research, awareness, and patient support programs, helping to make a meaningful impact in the fight against breast cancer.

The Association applauds Teachers FCU for its extraordinary generosity and ongoing leadership in supporting causes that bring hope and healing to so many.

Kyle Markland of Municipal CU Named an “Economic Trailblazer”

Congratulations to Kyle Markland, President and CEO of Municipal Credit Union (MCU), for being named to City & State New York’s 2025 Economic Trailblazers List! The recognition honors influential leaders across industries who are shaping the state’s economic future through innovation, investment, and workforce growth.

Under Kyle’s leadership, MCU has flourished and now serves 630,000 members with more than $4.7 billion in assets. Since joining MCU five years ago, Kyle has expanded branch access, hired nearly 200 new employees, broadened membership eligibility, and strengthened partnerships like the scholarship program with the NYC Department of Citywide Administrative Services. His steady guidance through the pandemic and commitment to member service have helped position MCU as a thriving, forward-thinking institution.

Congratulations to Kyle for this well-deserved recognition among New York’s most impactful economic leaders!

Broadview FCU Awarded by the Boys and Girls Club of the Capital Area

Congratulations to Broadview Federal Credit Union, recipient of the 2025 Community Impact Award from the Boys & Girls Clubs of the Capital Area! The award was presented during the organization’s Great Futures Gala: Defying Gravity.

The honor recognizes Broadview’s deep and ongoing commitment to empowering youth and supporting essential community programs throughout the Capital Region. The evening featured inspiring performances, moving tributes, and generous donations from local partners, all benefiting kids and teens in Albany and Rensselaer counties. Broadview’s dedication to “making sure every child has the chance to soar” embodies the true spirit of the event.

The Association commends Broadview FCU for their leadership, generosity, and lasting impact on the communities they serve.

Final Reminder to Credit Unions: Register for the 2026 Scholarship Program!

There’s still time for credit unions to participate in the Association’s 2026 College Scholarship Program! Be sure to register before the November 21 deadline! This program helps credit unions offer meaningful educational support to their young members by making college dreams a reality.

With one simple application, students who are members at participating credit unions can be considered for three potential scholarships—the statewide program, their credit union’s scholarship (if applicable), and their local chapter’s award. Credit unions can choose their level of involvement, and the Association provides administrative and marketing support, including promotional graphics and templates.

Don’t miss this opportunity to strengthen relationships with your youngest members and showcase your credit union’s commitment to their future success.

Webinar From Posh: Meet the New Brain of Banking

Discover the next evolution of AI in financial services with Posh’s Knowledge Assistant, a groundbreaking innovation built to amplify people, not replace them. Join this exclusive webinar on November 19 at 1:00 p.m. EST for a live look at how this next-generation platform transforms institutional knowledge into actionable power.

The new Knowledge Assistant goes beyond answering questions; it streamlines workflows, enhances training, and helps small teams achieve enterprise-level efficiency. Participants will gain insights into how AI can accelerate service delivery, boost team performance, and drive smarter decision-making across financial institutions.

Don’t miss your chance to get ahead of the curve and explore the future of banking technology. Click below to learn more and register.

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This week in the New York Minute, we’re covering Great Meadow FCU’s recent grant giving, recognitions for FourLeaf FCU, ESL Federal Credit Union, and Municipal Credit Union, and more! Get the latest industry updates from credit unions across the state in our weekly blog.

Great Meadow FCU Awards Grants to Five Local Organizations

Great Meadow Federal Credit Union (GMFCU) is making a lasting impact by awarding a total of $25,000 in community grants through a partnership with the Federal Home Loan Bank of New York! Five local nonprofits each received a $5,000 grant in recognition of their outstanding service and commitment to community betterment. Recipients include:

• WAIT House, which provides safety and support for youth in crisis
• Battenkill Community Services, which creates opportunities and inclusion for individuals with disabilities
• Slate Valley Museum, which preserves the region’s unique cultural heritage.
• Firefly Meadow Service Dogs, Inc., which empowers independence through trained service animals
• Habitat for Humanity of Northern Saratoga, Warren, & Washington Counties, which builds stability through affordable homeownership

Each organization reflects GMFCU’s mission to improve members’ lives and uplift local communities by “finding more ways to say YES.” Great work to the GMFCU team!

FourLeaf FCU Recognized by Fortune as Best Workplace

Congratulations to FourLeaf Federal Credit Union, which has been named to several prestigious Fortune Best Workplaces™ lists for 2025, including:

• Best Medium Workplaces
• Best Workplaces in Financial Services & Insurance
• Best Workplaces in New York

These honors are based on confidential employee feedback and organizational culture metrics and highlight FourLeaf’s dedication to putting people first and fostering a workplace where everyone thrives.

The credit union attributes this recognition to its remarkable team, leadership, and shared commitment to a people-over-profits philosophy that extends to both staff and members. By creating a culture of trust, collaboration, and belonging, FourLeaf continues to prove that when employees flourish, the entire community benefits.

ESL Federal Credit Union Named One of the Best Workplaces for Women

ESL Federal Credit Union has once again earned national recognition for its inclusive and empowering workplace, ranking #15 among small and medium organizations on Fortune’s 2025 Best Workplaces for Women™ list. This distinction, awarded by Great Place to Work^® and Fortune magazine, is based on comprehensive employee surveys and company data assessing fairness, leadership representation, and trust.

At ESL, 65% of employees are women, 69% of supervisors are female, and 66% of 2025 promotions went to women, evidence of a culture that provides a superior workplace experience and opportunity at every level. This marks ESL’s fourth Great Place to Work^® honor in 2025, following recognition in Financial Services, Medium Workplaces, and New York State.

Municipal Credit Union Second Annual Great Place to Work Certification

Municipal Credit Union (MCU) has once again earned the Great Place to Work^® Certification™, marking its second consecutive year achieving this national distinction. The certification process is highly rigorous, incorporating an in-depth review of workplace benefits, organizational culture, and results from a comprehensive anonymous employee survey.

MCU’s employees praised the organization’s supportive environment and strong sense of mission, uniting as #ONETEAM to help hardworking New Yorkers build better tomorrows. The recognition underscores MCU’s people-first approach and dedication to serving New Yorkers with excellence and heart.

Webinar: Indirect Lending: Credit Union Leaders Share What’s Working

Save the date for Origence’s “Indirect Lending: Credit Union Leaders Share What’s Working” webinar! Staying competitive in today’s lending landscape means being agile, data-driven, and focused on member value. This webinar will show how leading credit unions are doing just that.

The event will feature an expert panel sharing real-world insights and proven approaches to elevate lending programs. Panelists include:

• Christopher Hibbs, VP of Consumer Lending at Global Credit Union
• Tammie Atoigue, VP of Consumer Lending at Sound Credit Union
• Billy Wagner, Chief Revenue Officer at Arrowhead Credit Union

The session will be moderated by David Adams, SVP of Strategic Relationships–Lender Solutions at Origence. Attendees will learn strategies for building and maintaining strong dealer relationships, using automated decisioning to boost efficiency, navigating liquidity challenges in auto lending, and streamlining funding processes to enhance the member experience.

This session is scheduled for Thursday, November 13 at 2 pm ET. Click below for event details!

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In this week’s New York Minute, we’re highlighting support from New York lawmakers for the Community Development Financial Institutions Fund. Then, explore a scholarship opportunity from America’s Credit Unions, see professional recognitions, and more. Get weekly industry updates straight to your inbox with the New York Minute!

New York Lawmakers Sign Community Development Financial Institutions Fund Letter

Last week, 105 Republican members of Congress signed a bicameral letter urging continued funding for the Community Development Financial Institutions (CDFI) Fund. The letter, led by Senator Mike Crapo (R-ID) and Representative Young Kim (R-CA), emphasizes the essential role CDFIs play in driving economic opportunity and supporting underserved communities nationwide.

The Association extends its gratitude to Republican Representatives Claudia Tenney, Mike Lawler, Nicole Malliotakis, Andrew Garbarino, Nick Langworthy, and Elise Stefanik for their leadership and commitment to strengthening local communities. The letter highlights the success of programs like the New Markets Tax Credit and Capital Magnet Fund, which have created over one million jobs and expanded affordable housing opportunities across the country.

This broad show of support underscores the ongoing importance of CDFIs in fueling financial inclusion and community growth. Read the full letter below.

Announcing the 2026 GAC Scholarship Contest

America’s Credit Unions has officially launched the 2026 Small Credit Union Governmental Affairs Conference (GAC) Scholarship Contest, sponsored by TruStage! Credit unions with assets up to $250 million are invited to enter for a chance to win a full scholarship to GAC 2026, taking place March 1–5 in Washington, D.C.

Winners will receive complimentary registration, airfare, lodging, and incidentals to attend the credit union movement’s premier advocacy event. To enter, credit unions must participate in the Small Credit Union Committee’s Shared Resources Project by submitting a short write-up describing how collaboration or outsourcing helped their institution overcome a challenge, or how it could in the future.

The contest closes December 1, 2025, and winners will be announced December 15. Don’t miss this opportunity to represent your credit union in the nation’s capital!

Municipal Credit Union’s Toni-Ann Sforza Named to List of Rising Stars

Congratulations to Toni-Ann Sforza, Chief Operating Officer of Municipal Credit Union, on being named one of City & State New York’s 40 Under 40 Rising Stars! The annual list honors outstanding young professionals making a transformative impact in politics, advocacy, and business across the state.

Toni-Ann has built an impressive path in human resources and financial services, including various leadership roles. At MCU, she has helped modernize operations, streamline member services, and enhance the digital banking experience for more than 600,000 New Yorkers.

Deeply committed to community service, Toni-Ann also serves on the MCU Foundation board, advancing initiatives like its partnership with Ronald McDonald House. Her people-first philosophy reflects the true cooperative spirit of the credit union movement. See the full list of Rising Stars below.

Justin Merk of FourLeaf FCU Named to ’40 Under 40′

The New York credit union community is celebrating another rising leader! Justin Merk, of FourLeaf Federal Credit Union, has been recognized by Long Island Business News as one of this year’s 40 Under 40 honorees.

The award highlights professionals under 40 who demonstrate exceptional leadership, professional excellence, and dedication to their communities. Justin’s recognition underscores his strong commitment to advancing FourLeaf’s mission of member service and financial empowerment while fostering collaboration and innovation within the credit union industry.

Honorees were selected by a committee of past recipients and LIBN’s leadership team, making this distinction a testament to Merk’s impact both within and beyond his organization.

Congratulations to Justin and the entire FourLeaf FCU team for this well-deserved recognition! See the full list below.

First New York FCU Recognized as ‘Best Credit Union’ by The Daily Gazette

Congratulations to First New York Federal Credit Union for being named Best Credit Union by The Daily Gazette’s 2025 Best of the Best Awards, marking their fourth consecutive win!

This year, First New York earned top honors in six categories, a reflection of its unwavering dedication to excellence, innovation, and community impact. The recognition is particularly meaningful because it’s driven by member votes and highlights the deep trust and satisfaction First New York continues to inspire among those it serves.

First New York’s continued success showcases the strength of member-focused service and reinforces the vital role credit unions play in improving financial lives across New York.

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This week, don’t forget to donate to FOCUS NY’s fundraising campaign! There’s still time to donate before tomorrow’s deadline. Plus, announcement details for Crash the GAC 2026, America’s Credit Union’s new compliance resource, and more. Get the latest updates from across the state in the New York Minute.

Reminder: There’s Still Time to Contribute to FOCUS NY!

There’s still time to join the My Credit Union Purpose campaign and help strengthen advocacy for New York’s credit unions! Running through tomorrow, October 24, this statewide effort supports FOCUS NY, New York’s credit union political action committee that ensures our industry has strong allies in Albany.

The campaign’s goal is to raise $30,000, which will help elect policymakers who champion a pro-credit union agenda. This campaign is about more than fundraising, it’s about sharing why we do what we do and celebrating the values that define our movement.

To increase awareness and inspire contributions, we’re providing ready-to-use, customizable graphics. By posting these graphics and sharing your own “My CU Purpose” message, you’ll help highlight the values that set credit unions apart and show collective support for FOCUS NY.

How to participate:

1. Download your graphics
   Customizable Facebook/LinkedIn Template
   Customizable Instagram Template
2. Personalize the Canva template with your story or message and credit union’s logo
3. Post on your social channels with the hashtag #MyCUPurpose and tag the New York Credit Union Association
4. Encourage participation from your colleagues, staff, volunteers, and networks
5. Contribute to FOCUS NY

Click below to contribute!

Apply Today for Crash The GAC 2026

Emerging leaders, this is your chance to make your mark! Applications are now open for the 17th annual Crash the GAC, the original leadership development experience from The Cooperative Trust. One Crasher from each state will be selected to attend the 2026 Governmental Affairs Conference in Washington, D.C.—the industry’s premier advocacy event.

Conference registration, meals, and experiences are covered by America’s Credit Unions, giving Crashers access to world-class speakers, legislative visits with lawmakers, networking events, and more. Participants are responsible for travel and lodging.

Applicants must submit a 60-second video explaining why they should represent their credit union and state at the GAC. Authenticity matters more than production quality—share your why!

The application deadline is December 1!

FourLeaf FCU Named ‘Great Place to Work’

Congratulations to FourLeaf Federal Credit Union for being recognized as a Great Place to Work® for the third consecutive year! The certification, awarded by the global authority on workplace culture, is based entirely on employee feedback gathered through the Trust Index™ Survey—a benchmark of engagement, satisfaction, and organizational pride.

This recognition places FourLeaf among the top workplaces nationwide that prioritize people over profit and foster environments where teams feel valued and supported. Congratulations to the entire FourLeaf FCU team for continuing to exemplify the credit union difference in action!

America’s Credit Unions Launches New Compliance Resource

America’s Credit Unions has launched a new educational series, Compliance 101, designed to simplify key regulatory concepts for credit union professionals. The inaugural edition provides an in-depth breakdown of Regulation E, Subpart A, including section-by-section explanations and links to additional guidance materials.

Compliance 101 joins the broader Compliance Resource Library, where members can access a wide range of tools such as FAQs, calendars, and reference documents—all in one place. The series will continue expanding with future installments covering other core compliance topics.

Access to these resources requires an America’s Credit Unions member login, offering credit unions an efficient way to stay informed and ensure compliance with evolving regulations.

New FAQs Related to Suspicious Activity Reporting

By: InfoSight360
On October 9th, the Financial Crimes Enforcement Network (FinCEN) along with the joint agencies, including the National Credit Union Administration (NCUA), issued four frequently asked questions related to SAR filing. The FAQs, available here, are summarized below:

• A credit union is not required to file a SAR simply because a transaction (or series of transactions) is at or near the CTR reporting threshold of $10,000. A SAR is only required if the institution knows, suspects, or has reason to suspect that the transaction(s) are designed to evade the CTR reporting requirement.
• A credit union is not required to conduct a separate review after the filing of each SAR to determine whether the suspicious activity is continuing. Instead, it can rely on its policies, procedures, and internal controls to monitor for ongoing suspicious activity.
• For ongoing suspicious activity, any subsequent SAR filing should include a full 90-day review period. For example, the credit union identifies suspicious activity on day 0. It has until day 30 to file a SAR. A full 90-day review period from the filing of the previous SAR would end on day 120. The credit union would then have until day 150 to file a subsequent SAR for the continuing suspicious activity.
• Documenting a credit union’s decision not to file a SAR is not a requirement under the Bank Secrecy Act or its implementing regulations; it is a best practice. In most instances, a short, concise statement regarding the decision not to file will suffice.

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In this week’s New York Minute, we’re celebrating International Credit Union Day! Then, we’re recapping the Association’s testimony on data privacy and consumer protections, answering frequently asked questions about inflation return checks, and more. Get weekly updates from credit unions across the state in our blog!

Happy International Credit Union Day!

Each year, credit unions around the world come together to celebrate the cooperative spirit that drives our movement—and today marks the 77th anniversary of International Credit Union (ICU) Day®! Since 1948, this day has honored the positive impact that credit unions make in communities across the globe.

This year’s theme, “Cooperation for a Prosperous World,” recognizes the power of collaboration and the role credit unions play in building financial well-being for all. On behalf of the New York Credit Union Association, we thank you for your continued dedication to people over profit and encourage you to celebrate by proudly sharing photos on social media using #ICUDay2025.

Together, we’re building a brighter, more inclusive financial future—one member at a time. Learn how you can get involved below!

The Association Testifies on Data Privacy and Consumer Protections

This Tuesday, the Association participated in a joint legislative hearing on data privacy and consumer protections, held by the Assembly Standing Committees on Consumer Affairs and Protection and on Science and Technology.

Jeremy Newman, the Association’s Vice President of Legislative and Regulatory Affairs, provided oral testimony on behalf of New York’s credit unions. His remarks emphasized the importance of protecting consumer data while maintaining fair and practical compliance standards for community-based financial institutions.

The hearing brought together industry experts and stakeholders to discuss potential solutions for enhancing transparency, ensuring informed consent, and creating robust privacy safeguards for all New Yorkers. The Association remains committed to working with state policymakers to advance thoughtful, balanced frameworks that protect consumers while preserving credit unions’ ability to serve their members effectively. Watch the recording of the full hearing in the link below.

Sunmark Credit Union Named ‘Best Place to Work’

Congratulations to Sunmark Credit Union, recently named one of the Best Places to Work by the Albany Business Review!

Now in its 22nd year, the Best Places to Work program honors employers across the Capital Region who foster outstanding workplace cultures. Winners were selected through employee surveys conducted by Quantum Workplace, which measures satisfaction, engagement, and organizational trust. Only companies receiving strong participation and exceptional ratings from staff earn a spot on the list.

Sunmark’s leadership credits the recognition to the dedication and collaboration of its talented team, whose passion continues to drive the credit union’s success. This achievement highlights Sunmark’s ongoing commitment to empowering employees and delivering exceptional service to members.

Cornerstone Community FCU Named ‘Best of 716’

The Buffalo News has awarded the winners of its fifth annual Best of 716 Awards, including Cornerstone Community Federal Credit Union in the Credit Union category!

This year’s program received a record-breaking 110,900 nominations and more than 443,300 votes—a 37% increase from last year. The community’s overwhelming participation showcases the strong connection between Western New Yorkers and their favorite local organizations.

Cornerstone’s recognition reflects its trusted reputation, community commitment, and dedication to improving members’ financial lives across the region. The Association congratulates Cornerstone on this well-deserved distinction and thanks The Buffalo News readers for shining a light on the credit union difference.

See the full announcement video from Cornerstone Community FCU featuring Buffalo Bills wide receiver Joshua Palmer below!

Inflation Reduction Checks Notification & Frequently Asked Questions

To help provide financial relief amid rising costs, New York State has begun issuing Inflation Refund Checks to eligible residents. As credit unions continue to support members and communities across the state, it’s important to understand how these payments may impact your operations and member interactions. The following further explains Inflation Refund Checks and provides insight into frequently asked questions addressing deceased payees and a credit union’s right to offset these funds. This resource will help ensure your team is informed and ready to assist members effectively.

What are the inflation refund checks?
New York State is providing a one-time payment to New Yorkers who have paid increased sales taxes due to inflation.

How will the inflation check be paid?
The inflation refund checks will be mailed to the current address that the Department of Taxation and Finance has on file for the member. For example, if the member moved after they filed their 2023 return, but they filed a 2024 return with their new address, the check will be mailed to the address utilized on the more recent 2024 tax return.

Does the member need to deposit the inflation check in the same account associated with their tax returns?
No, the member can deposit the check payable to their name into any account they have with the Credit Union.

If the inflation check is made payable to joint account members, must both account parties endorse it?
Yes, if the check is made payable to one member AND another, both parties must endorse the check prior to it being deposited into either member’s account. If the check is made payable to one member OR another member, then only one payee is required to endorse the check.

If the inflation check is made payable to joint members, can they deposit it into a single account, or must it be deposited in a joint account?
If the inflation check is made payable to one member AND another, both parties must endorse the check, and the check can be deposited into a single member’s personal account or to their joint account.

What happens if a member received a check payable solely to a deceased member?
The check can be deposited into an estate account for the deceased member; or the survivor can contact NYS Department of Taxation and Finance at 518-457-5181 to have the check reissued in survivor’s name. The Department will mail the member paperwork to complete to have the check reissued in the surviving member’s name only. When calling, the member should have a copy of their most recent tax return for the phone verification process.

What happens with a check that is jointly payable to a surviving member and their deceased spouse?
The surviving member should contact NYS Department of Taxation and Finance at 518-457-5181 to have the check reissued in survivor’s name only. When calling, the member should have a copy of their most recent tax return for the phone verification process. The Department will mail the member paperwork to complete to have the check reissued in their name only. Then the check can be deposited into the surviving member’s Credit Union account.

Is the NYS Inflation Refund Check protected by NYS EIPA from garnishments?
No. It is not considered a public assistance fund nor is it considered as any other fund protected under the EIPA. The inflation check is considered a tax-based rebate that is subject to federal income tax.

If a member has defaulted on a loan with the Credit Union, can the funds be offset from the member’s account?
Yes. Credit Unions have the right to offset such funds deposited into their Credit Union accounts which can be used to satisfy any debt owed to the Credit Union provided notice of such offset rights are included in the member’s account agreement or in the loan agreement.

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