St. Philip's Church Harlem
To encourage thrift among its members, and to assist them in developing a sound financial understanding.
The St. Philip’s Credit Union was founded in 1951 with only $100 because African-Americans were not able to access commercial banks for saving and borrowing money at affordable rates.
The Credit Union is a federally-chartered financial institution. Over the years, the Credit Union has grown to over $1.5 million in assets. Membership in the Credit Union is open to all members of St. Philip’s Church as well as anyone looking for affordable banking. Customers earn competitive rates on their savings, and borrow at reasonable interest rates for a variety of purposes.
The Credit Union is affiliated with St. Philip’s Church, but is independently managed by a Board of Directors composed of eight church members. The Credit Union is open on Wednesdays from 5:30-7:30 p.m. and on Sundays from 12:00-2:00 p.m.