A credit union that was born in the midst of the nation’s Great Depression in the 1930s is still alive and kicking in 2012.
The Bay Ridge Federal Credit Union marked its 78th anniversary by throwing a dinner party at the Bay Ridge Manor on April 4 and inviting hundreds of the community’s movers and shakers to help celebrate the milestone.
The credit union was established in 1934. Its total assets for the year 2011 were more than $152 million, according to the firm’s financial report.
New York State Supreme Court justices, elected officials and Community Board 10 members were among the people enjoying a buffet dinner of calamari, salad, penne pasta, chicken francese, rice, turkey and roast beef in the Manor’s main ballroom.
Gene Brody, president and CEO of the credit union, said credit unions are obligated by law to hold an annual membership meeting. But instead of a dry meeting in a boardroom, Brody and the credit union’s Board of Directors like to throw an anniversary party each year and have that double as the annual meeting.
“We thought, ‘Why not throw a party and invite all of our friends to come?’” Brody said.
There was business conducted at the party, however. The Board of Directors was re-elected and the annual financial report was read aloud. The members of the Board of Directors are: Dr. Steven Dickert, chairman; Gene Brody, president and CEO; Alan Brody, director; Bruce Butchen, director; and John Abi-Habib, director. The credit union issued $115,577,084 in loans to its members in 2011, according to the financial report.
Brody made news when he announced that the credit union would be pulling up stakes and moving its headquarters.
The credit union, which has been located at 9000 Fourth Ave. for 20 years, is relocating to a new, 12,500-square-foot space on 86th Street between 17th and 18th avenues in Bensonhurst.
“But we will always be Bay Ridge,” Brody said. “And we will always be called Bay Ridge Federal Credit Union.”