News

Progressive Credit Union is proud to be one of New York’s oldest member-owned financial institutions. Check this page for the latest news our institution is making!

June 2018

Press Release: PCU Hires New Director of Medallion Lending 

May 2018

Press Release: PCU Now Has Line of Credit with Federal Home Loan Bank

April 2018

Press Release: PCU Partners with CO-OP Shared Services

As seen in Credit Union Journal: Taxi medallion credit union exec: don’t rule cabs—or us—out yet

“Despite the difficulties caused by deregulation, PCU has bent but will not break.

PCU continues to work with our medallion owner members to stabilize their loans so they can stay in business, all while PCU diversifies its own business in order to continue effectively serving medallion owners and other borrowers.”

Press Release: PCU Launches New Online Membership Tool

March 2018

The sale of Progressive’s headquarters at 131 West 33rd Street in Manhattan was featured in Commercial Observer. You can read the piece here.

Progressive, the largest lender to taxi cab medallions, purchased the seventh and a portion of the eighth floor in October 2009 for $6.9 million and the remaining portion of the eighth floor in September 2011 for $4.2 million, Rudder said. The union utilized the space and as part of the sale has leased it back for a year before the union moves in.

“Progressive Credit Union’s initial $445-per-rentable-square-foot purchase in 2009 and ultimate sale at $945-per-rentable-square-foot today highlights the appreciation of the office condominium market over the past eight years,” Rudder said.

February 2018  

Robert Familant, Progressive Credit Union’s Treasurer/CEO, discusses commercial real estate with Michael Stoler on The Stoler Report.

January 2018  

Press Release: Progressive Credit Union Hires New Additions to Executive Team