Yonkers Postal Employees Credit Union Frequently Asked Questions

Yes, member accounts at Yonkers Postal Employees Credit Union remain safe and fully insured up to the maximums established in federal law.

Administered by the National Credit Union Administration, the National Credit Union Share Insurance Fund insures member accounts owned by an individual for up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund also separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.

NCUA’s online Share Insurance Estimator allows individuals to estimate their share insurance coverage. Once an individual provides the required data, the Share Insurance Estimator produces a report with detailed explanations of insurance coverage.

Members with additional questions about their insurance coverage may contact the National Credit Union Administration’s Consumer Assistance Center toll free at 800.755.1030. The center answers calls Monday through Friday between 8 a.m. and 5 p.m. Eastern.

Individuals may also visit the MyCreditUnion.gov website at any time for more information about insurance coverage.

NCUA is an independent agency of the federal government that, among other things, operates and manages the Share Insurance Fund, which insures accounts at all federally insured credit unions, including Yonkers Postal Employees Credit Union.

The New York State Department of Financial Services took possession of Yonkers Postal Employees Credit Union on July 28, 2023, and appointed NCUA as conservator. In a conservatorship, the NCUA’s priority is to protect the assets of the members of Yonkers Postal Employees Credit Union while working to maintain safe and sound credit union operations.

A conservatorship means NCUA, as conservator, works to address issues related to a credit union’s operations and financial condition while maintaining member services.

Yes, Yonkers Postal Employees Credit Union will remain open during the conservatorship. Members may contact Yonkers Postal Employees Credit Union at 914.423.7628 between 10:00 a.m. and 4:00 p.m. on Tuesday, Wednesday, and every other Friday coinciding with USPS paydays. The credit union operates from one office located at 79-81 Main Street, Yonkers, New York.

Yonkers Postal Employees Credit Union serves 486 members, according to its most recent Call Report.

Yonkers Postal Employees Credit Union serves persons working for the United States Postal Service in Westchester, Putnam, Dutchess, Rockland, and Orange Counties, New York.

The credit union has $6.3 million in assets, according to its most recent Call Report.

In working to resolve issues affecting Yonkers Postal Employees Credit Union, the top priority is to protect the interests of the credit union’s members, and NCUA has no set timeframe for completing this process.

Through the conservatorship, the NCUA seeks to resolve operating issues at the credit union with the goal of protecting member assets and seeking a resolution to identified problems. The NCUA has made no decisions about the long-term future of the credit union; however, continued service to members is a priority.