This year marks the UN International Year of Cooperatives, which celebrates the principles and benefits of member-ownership, as well as cooperatives’ impact on sustainability, notably their community impact. The United Nations Federal Credit Union (UNFCU) was founded in October 1947 by 13 UN staff in New York who determinedly wanted to address the financial needs of colleagues, arriving from around the world, to the new UN headquarters. As a result of their vision and the support of the UN administration, UNFCU was chartered. Our legacy continues.
Today, UNFCU serves more than 250,000 members across 200 countries and territories. Innovative financial solutions, responsible lending and deposit options with competitive rates, and a commitment to members’ well-being underpin the mission of serving the people who serve the world. Last June, the Board of Directors appointed Pamela Agnone President & CEO of UNFCU. As part of her 26-year career at UNFCU, Ms. Agnone most recently served as Executive Vice President.
Financial education: a hallmark
UNFCU has been closely monitoring changes as a result of UN funding constraints and the consequent impact to members. We work in partnership with UN entities and affected members to best support themselves and their families so they can move forward with greater confidence.
UNFCU has leaned into financial education to assist members navigating uncertainties brought about by an ever-changing economic landscape and ongoing system reform. Our Credit Union continues to provide a financial cornerstone for UN system staff and their loved ones as a constant in their lives.
“UNFCU is deeply committed to providing members with financial peace of mind,” said Timothy Challen, First Vice President, UN Affairs and Partnerships at UNFCU. “We’ve introduced more resources offering guidance, clarity, and practical, actionable steps to help our members build resiliency and financial health.”
Last year, UNFCU conducted more than 340 symposia, webinars, presentations, and hands-on Digital Banking demonstrations around the world. “These events empower members with effective strategies and safeguards on how to save and manage their money. We thank UN staff and retiree associations for their frequent collaborations and look forward to hosting more educational sessions virtually and in-person,” added Challen.
Financial wellness information provided by UNFCU’s subject matter experts continue to be added to a dedicated webpage on unfcu.org. These cover topics such as budgeting, retirement strategy, fraud prevention, and more.
Whether relocating, retiring, or separating service, members can stay connected to UNFCU throughout their lives. It’s important to note that once a member of UNFCU, you are always a member. A benefit of UNFCU membership is not having to re-establish membership upon moving to a different UN hub or other country, or if you separate from the United Nations. UNFCU’s keen understanding of global citizens harkens back to its founders’ vision.
“At UNFCU, we believe that education strengthens members’ financial well-being,” said Felicity Nakayima, Member Service Representative Supervisor at UNFCU’s Entebbe Representative Office. “My colleagues and I enjoy offering insight and guidance on financial solutions and essential points, such as the need to add beneficiaries to their accounts, so that members can focus on what matters most, their loved ones, their futures, and their vital work to make the world a better place. Given the ongoing flux in the world, staff and their families need to be informed so they can be financially prepared today and establish a long-term path towards financial security.”
A focus on members’ experience
Last year, UNFCU took a key step toward elevating members’ experiences by establishing a new Member Experience Management Center of Excellence. This center is empowering staff with the skills and tools to deliver better member experiences in 2025 and beyond.
Backed by an international perspective serving the financial needs of global citizens, UNFCU’s true value shines through at the local level. Whether meeting one-on-one with members to understand their goals or gaining invaluable feedback through member surveys, this personalized approach underlines the cooperative difference.
The addition of UNFCU’s Contact Center in Kenya, together with our US-based member service representatives with more native Spanish and French speakers, has steadily improved call wait times and service delivery.
Financial strength, investing back into the organization
In managing member assets conservatively through a changing economic environment, UNFCU delivered record earnings of $90 million in 2024, the most recent fiscal reporting. This enabled the Credit Union to continue to reinvest earnings into the organization for reserves and improved services.
UNFCU also returned $9.3 million to members in the form of Member Loyalty Rewards. A new Diamond reward tier was added to recognize UNFCU’s longest-tenured members with the highest extra dividend rewards and fee rebates. We also prioritized actionable solutions tailored to specific needs members shared with us. Among the recent examples, members in the United Kingdom can now securely transfer pounds sterling to UNFCU accounts. An interest-only home equity line of credit is helping homeowners in the United States take advantage of their home equity with smaller initial payments.
New mobile solutions
Earlier this year, UNFCU announced the expansion of a range of payments solutions offered worldwide. Customized capabilities include enhanced wire services and creating easier management of their accounts anywhere, anytime using mobile banking.
As part of its digital strategy, UNFCU continues to introduce more low-cost mobile money transfer options now available in 32 mobile wallets across 21 countries with competitive foreign exchange rates. Transfer services allow members to send payments in local currencies to mobile wallets across Africa, Asia, and Central America.
During the first half of 2025 alone, UNFCU added seven wallets in six countries, namely the Democratic Republic of the Congo, Ethiopia, Haiti, the Philippines, Senegal, and South Sudan.
“We continue to focus on transfers and payments because we know that our members rely on us for simple, fast payment options to meet needs, including tuition payments and support to family members overseas,” said Bill Thomas, Chief Global Channels and Operations Officer at UNFCU. “Direct member feedback from around the globe is critical to our success and guides our commitment to continually improve the member experience to strengthen financial well-being and to support financial inclusion.”
Sustainability as a core value
As an extension of its service mission, UNFCU continues to advance the UN Sustainable Development Goals to which its sustainability initiatives are aligned. Actions on a changing climate, financial inclusion, philanthropy through the UNFCU Foundation, and community outreach are detailed in UNFCU’s Impact Report, available at unfcu.org. UNFCU had a direct, positive impact on 14 out of 17 SDGs.
UNFCU’s investment policies prohibit investments in fossil fuel exploration, production, and wholesale distribution, as well as in the tobacco and firearms industries. Deposits from UNFCU Impact share certificates are used to support environmental and social causes, such as affordable housing. UNFCU will host its 8th United in Sustainability Summit for the credit union industry this fall.
“We want our members to feel secure through financial well-being, especially during these challenging times,” said Pamela Agnone. “Each day, our staff responds with customized, cross-border, and cost-effective solutions, as well as educational and sustainability initiatives that address the needs of global citizens. Providing that peace of mind gets to the core of every member’s decision to put their trust in us.”
More info: unfcu.org