At a glance
From its website, read 2 Nov 2026Brooklyn Cooperative Federal Credit Union is a credit union based in Brooklyn, New York. Its website describes credit-builder loans, home mortgages, personal loans and 2 other loan types. Stated loan amounts run from $500 to $100,000. Where it lends: Brooklyn residents. The consumer loan APR it states is 17.74%. It says it considers borrowers with low or no credit history. You can start an application online. It serves borrowers in Spanish.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| loans@brooklyn.coop source | |
| Apply online | Page with the application link |
| Website | www.brooklyn.coop |
| Office (official list) | 1308 Myrtle Avenue, Brooklyn, NY 11221 |
What their website says about applying
Membership is required before applying for a loan.
sourceOnce your membership has been established, you can submit your loan application online or visit one of our branches for assistance.
sourceBe sure to bring in one month of recent pay stubs, or any other letters or proofs of income that you receive.
sourceYou should also bring two recent rent receipts or your lease.
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Loans (general) | Rate: 17.74% APR | 17.74% APR | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Who qualifies, in their words
- Membership required
Membership is required before applying for a loan.
source - Low or damaged credit considered
Yes. When we process your application we will look at your situation as a whole
source - Collateral required
All personal loans require a security deposit equal to at least 20% of
source
Only rules the lender's own pages state. Other requirements may apply.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Credit union |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 11 Sep 2026 |
| RSSD ID | 2979212 |
| Address | 1308 Myrtle Avenue, Brooklyn, NY 11221 Directions (Google Maps) |
| Website | www.brooklyn.coop |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 6 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: medium. Mortgage and credit-builder details come only from the home page, and the separate loan pages for them were not fetched. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Credit-builder loans | — | Start (or rebuild) your credit with a small, manageable loan and fair terms. | source |
| Home mortgages | — | Flexible mortgage options to help you beome and stay a successful homeowner. | source |
| Personal / consumer loans | — | Brooklyn Coop’s personal loans are popular because they fit your needs | source |
| SBA-backed loans (7(a)/504/Community Advantage) | — | Brooklyn Coop participates in the SBA 7(a) Express Loan Program. | source |
| Small-business loans | — | Brooklyn Coop is one of the borough’s leading business lenders. | source |
Loan sizes
Range used for the size filter: $500 to $100,000
Service area
Brooklyn residents
We provide financial education, fair loans, and opportunities for Brooklyn residents to thrive.
source
Counties this matches: Kings County, NY
Borrower focus
- Startups
We consider loan applications from any business even if you’re just starting out.
source
Languages
- Spanish
Aplica en línea ahora
source
Online application
Yes — the site links to an application. APPLY ONLINE NOW
source
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- How do I become a member, and is there a fee or a minimum deposit?
Credit unions lend only to their members. - How long can I take to repay?
No repayment terms are stated on their website. - Do you offer down-payment help, and is a homebuyer education course required?
CDFI home loans often come with homebuyer education or down-payment help; their website does not say. - Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$13.5 million in 15 awards from the U.S. Treasury's CDFI Fund, 2001–2024 (4 programs).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $1,035,000 |
| 2022 | CDFI Equitable Recovery Program | $3,470,374 |
| 2021 | CDFI Program, Financial Assistance | $476,530 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2020 | CDFI Program, Financial Assistance | $737,500 |
| 2018 | CDFI Program, Financial Assistance | $1,250,000 |
| 2012 | CDFI Program, Financial Assistance | $964,806 |
| 2011 | CDFI Program, Financial Assistance | $1,500,000 |
| 2009 | CDFI Program, Financial Assistance | $1,150,000 |
| 2007 | CDFI Program, Financial Assistance | $393,998 |
| 2005 | CDFI Program, Financial Assistance | $253,440 |
| 2004 | CDFI Program, Financial Assistance | $262,720 |
| 2004 | CDFI Program, Technical Assistance | $49,486 |
| 2002 | CDFI Program, Technical Assistance | $25,000 |
| 2001 | CDFI Program, Technical Assistance | $140,000 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Branches and size
NCUA, 30 Jun 2026On file with the NCUA as BROOKLYN COOPERATIVE (charter 24642). Source: NCUA 5300 Call Report quarterly data (public data) as of 30 Jun 2026, downloaded 3 Nov 2026: total assets, members and branch addresses.
| Total assets | $55.9 million (as of 30 Jun 2026) |
|---|---|
| Members | 6,393 (as of 30 Jun 2026) |
| Offices | 3 (as of 30 Jun 2026) |
Offices by state and county (3)
New York (3 offices)
- Kings County (3): 1308 Myrtle Ave, Brooklyn 11221 (main office); 1368 Fulton St, Brooklyn 11216; 282 Chestnut St, Brooklyn 11208
An office shows where the lender has a branch, not where it lends or whom it lends to. Credit unions serve members only; check who can join. For the ZIP-code search, credit-union offices are placed at the centre of their ZIP code (approximate).
What the regulator filing shows
NCUA 5300, 30 Jun 2026Figures from the 5300 Call Report filed by Brooklyn Cooperative Federal Credit Union (NCUA charter 24642, filed as “BROOKLYN COOPERATIVE”). Source: NCUA 5300 Call Report quarterly data (public data), cycle 30 Jun 2026; year-earlier figures from the 30 Jun 2025 cycle; downloaded 3 Nov 2026.
| Total loans and leases | $40.6 million, 1,176 loans (as of 30 Jun 2026) |
|---|---|
| Change over the year | Down 1.9% from $41.3 million on 30 Jun 2025 |
| Members | 6,393 (as of 30 Jun 2026); 7,297 (as of 30 Jun 2025) |
| Loans per member | $6,344 (total loans divided by members, 30 Jun 2026) |
| Total assets | $55.9 million (as of 30 Jun 2026) |
Loan mix (balances on 30 Jun 2026)
| Loan category | Balance | Share |
|---|---|---|
| First-lien home mortgages (1-4 family) | $23 million | 56.6% |
| Other real estate loans (junior liens, other) | $1.7 million | 4.2% |
| Commercial (business) loans | $6.9 million | 17.0% |
| Credit cards | $258,933 | 0.6% |
| Other unsecured loans | $3.2 million | 8.0% |
| Leases and other secured loans | $5.5 million | 13.6% |
None reported on the 30 Jun 2026 report: new vehicle loans; used vehicle loans.
Balances are loans outstanding on the report date, not loans made during the year. A category with no balance does not mean the credit union never makes that kind of loan. Credit unions lend to members only; check who can join.
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Median SBA 7(a) loan it approved, FY2020–FY2026 | $15,000 (86 loans) | All 7(a) lenders in New York: $130,000. Larger than the median loan of 1% of the 97 other certified CDFIs with 10 or more 7(a) loans. |
| SBA approvals, FY2023–24 → FY2025–26 | 27 → 18 | Rank among the 9 certified CDFIs in New York with SBA approvals in either period: 1 → 4. |
| Largest loan its website states | $100,000 | Other credit unions whose website states a maximum: median $60,000. Higher than the stated maximum of 55% of these 64. |
| Total assets (Call Report, 30 Jun 2026) | $55.9 million | Larger than 61% of the 18 other certified credit unions in New York (median $41.6 million). |
| Loans as a share of assets | 73% | Median of the same 18 credit unions: 60%. A higher share means more of its balance sheet is lent out. |
| Loans held, 30 Jun 2025 → 30 Jun 2026 | $41.3 million → $40.6 million (-2%) | Median change of 17 other certified credit unions in New York: +1%. Rank by loans held among these 18: 6 → 6. |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Median SBA 7(a) loan | certified CDFIs with 10+ 7(a) loans, nationwide | 97 | larger than 1% |
| SBA approvals then vs now | certified CDFIs in New York with SBA approvals FY2023–2026 | 8 | rank 1 → 4 of 9 |
| Largest stated loan | other credit unions stating a maximum, nationwide | 64 | higher than 55% |
| Call Report total assets | other certified credit unions in New York | 18 | larger than 61% |
| Loans held then vs now | certified credit unions in New York reporting both dates | 17 | rank 6 → 6 of 18 |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered; your rate depends on the loan and on the lender's review. Peer groups and sources: methodology. SBA 7(a) & 504 FOIA data as of 30 Sep 2026. Assets and loans: FFIEC and NCUA Call Reports (see the loan-mix section).
SBA loans approved
SBA data as of 30 Sep 2026The SBA's public loan data lists 86 SBA-backed approvals for Brooklyn Cooperative Federal Credit Union in fiscal years 2020–2026 (October 2019 to September 2026):
- 86 7(a) loans as the lender: $2.9M in total (gross amount approved), median $15,000
By fiscal year: FY2020 15 · FY2021 10 · FY2022 16 · FY2023 10 · FY2024 17 · FY2025 10 · FY2026 8.
What actually happened
- Size of its 7(a) loans: half were between $10,000 and $39,125, median $15,000 (86 loans)
- Term of its 7(a) loans: median 60 months (5 years) (86 loans)
- Interest rate at approval on its 7(a) loans in FY2025–26: median 13.50%, half between 13.25% and 14.00% (18 loans; SBA's initial rate, before any change on a variable loan)
- Fixed or variable: 91% of its 7(a) loans had a fixed rate (86 loans)
- Young businesses: 43% of its 7(a) loans went to a startup or a business two years old or less (86 loans with an answer)
Descriptive only: what the SBA file records for loans this lender approved in fiscal years 2020–2026. Each figure covers at least 10 loans; with fewer we show nothing. It is not an offer, not the rate or term you would get, and says nothing about your chance of approval.
By program
- 7(a) SBA Express (79, 92%)
- 7(a) standard (7, 8%)
Borrower industries
NAICS sector, 3 or more loans.
- Accommodation and food services (15)
- Retail trade (12)
- Other services (except public administration) (12)
- Professional, scientific, and technical services (10)
- Transportation and warehousing (5)
Where borrowers are
County of the borrower's ZIP code, 3 or more loans.
- Kings County, NY (67)
- New York County, NY (8)
- Queens County, NY (7)
How this lender was matched in the SBA files: NCUA charter 24642, found through the RSSD ID in NCUA records (SBA lists “Brooklyn Cooperative Federal Credit Union”).
Approved is not the same as paid out: an approved loan can be reduced or never drawn. SBA lists the lender each loan is currently assigned to, which can differ after a merger or loan sale. Brooklyn Cooperative Federal Credit Union may also make loans outside SBA programs, which are not counted here, and SBA Microloans are not in these files.
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data, files as of 30 Sep 2026, downloaded 3 Nov 2026. Our counts, cancelled approvals left out. How we match lenders.
Other certified CDFIs in Brooklyn and New York
- BlocPower L.L.C.Loan fund · Brooklyn, NYEnergy / solar / efficiency loansVerified
- BOC Capital Corp.Loan fund · Brooklyn, NYEnergy / solar / efficiency loans, Microloans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- Brooklyn Alliance Capital, Inc.Loan fund · Brooklyn, NYMicroloans, Small-business loansVerified
- Concord Federal Credit UnionCredit union · Brooklyn, NYCredit-builder loans, Personal / consumer loansVerified
Work at Brooklyn Cooperative Federal Credit Union? Link to this page
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