From the Blog

Why Bank With Brooklyn Coop?

Blog by Samira Rajan September 05,2025

I’ve heard that question ten thousand times. Often the answer changes based on the goals of the individual asking the question. For business-owners seeking capital, I point out that Brooklyn Coop’s SBA lending program is uniquely suited to small local businesses. For people with negative credit history, I explain how much more accessible our Credit Builders are as compared to other banks. This approach works because Brooklyn Coop’s various accounts or loans truly do meet the financial needs in our neighborhoods. But over the years I have felt like this answer was missing something. Why move your money to this credit union? It is an important question and it deserves a more powerful answer. If you’re credit union-curious, I want to demonstrate very clearly why banking with a not-for-profit financial institution is Fundamentally Awesome.

This past summer Brooklyn Coop staff have been refining that answer. “Achievements” creates that missing connection between our services and our mission to build members’ wealth and resiliency. By encouraging members to meet specific milestones for products like checking accounts, loan balances, or monthly deposits, we ask members to see themselves on a path towards economic security.

Now our answer to Why Bank at Brooklyn Coop? is proudly:

Brooklyn Coop is a community credit union whose mission is to build wealth and resiliency among our members. As a member, when you utilize the credit union’s products and services, you are not just transacting. You are building economic security for yourself and your family.

In other words, Brooklyn Coop’s interests are aligned with yours. We succeed when our members succeed. Whatever your specific goal is (paying off debt, saving for a home, paying for college, leaving a legacy for your children), Brooklyn Coop can bring you along that path through its actual financial products and through providing honest, thoughtful relevant education. [Cash IRL Workshop]

Beginning Sept 1 2025, the credit union will assess each of our members’ progress on five specific Achievements. These Achievements signify a meaningful step towards economic security:

– Accumulating $1,500 in a CD builds wealth by earning interest

– Qualifying for a $1,000 loan reflects positive credit history, an accomplishment that is reinforced as you make payments over time.

– A habit of depositing $250 every month grows your savings and demonstrates control over your budget

Reaching these Achievements takes effort. We see you! Brooklyn Coop will recognize and reward our members’ achievements through reduced fees, higher dividends on CDs, and reduced loan interest rates.

Being specific on the dollar amounts in each Achievement gives our members tangible milestones. You can set a timeline for yourself or work with our free financial counseling to create that timeline. Through it all, the credit union is here to support, to advise, to cheer you on as you add up Achievements. Ready, Set, Grow!