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Elektra Federal Credit Union is a New York-based credit union established in 1940, serving over 6,200 members with $35.9M in assets and specialized financial services for manufacturing sectors.
Data compiled from public sources
Elektra Federal Credit Union was established in 1940 and is headquartered in New York, NY, making it an 84-year-old financial institution with deep roots in the local community. 9 million in total assets. Elektra offers a comprehensive range of banking products and services including regular savings accounts, share draft accounts, IRA/KEOGH retirement accounts, auto loans for new and used vehicles, personal loans, and mortgage options.
Members can access funds through online banking, a mobile app available on both iOS and Android, online bill pay, and traditional in-branch services. The credit union also provides financial calculators and comparison tools to help members make informed decisions. What distinguishes Elektra is its specialization in serving diverse manufacturing sectors with tailored financial solutions designed for industry-specific needs.
This niche focus differentiates it from general-purpose banks and reflects its membership composition. The credit union maintains active online and mobile banking platforms, though the lobby is currently closed, indicating a shift toward digital-first service delivery. Elektra is a legitimate federally-chartered credit union with established membership eligibility requirements and community Q&A forums.
However, as a small credit union with only one branch and no ATMs, it has limited physical accessibility. The lack of current member reviews and the currently-closed lobby status suggest the institution may be undergoing operational transitions. Prospective members should verify current service availability before opening accounts.
This is state-level context for Credit Unions consumers in New York, NY. It does not confirm that Elektra Federal Credit Union or this specific location is licensed.
State regulator
New York Department of Financial Services
Consumer protection
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Elektra Federal Credit Union offers 12 services including Regular Savings Accounts, Share Draft Accounts, IRA/KEOGH Retirement Accounts, Auto Loans (new and used vehicles), Personal Loans, and 7 more.
Elektra Federal Credit Union has profile signals associated with Manufacturing sector employees seeking industry-specific financial solutions, New York-based professionals with local community ties to the institution, Members comfortable with primarily digital banking through online and mobile platforms, Credit union members seeking personalized service from a niche financial institution.
Key strengths: Established in 1940 with 84 years of operating history and institutional stability; Serves over 6,200 members with competitive asset base of $35.9 million; Offers listed financial solutions tailored to manufacturing sector needs. Areas to consider: Only 1 physical branch location with no ATM network limits accessibility; Lobby currently closed, suggesting operational challenges or transitions.
In the Credit Unions category, comparable providers include Justice Federal Credit Union Quantico, NBC (NY) Employees Federal Credit Union, New York Times Employees Federal Credit Union. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Elektra Federal Credit Union is best suited for manufacturing sector employees in New York seeking listed, relationship-based banking with industry-tailored financial solutions. The primary caveat is the institution's limited physical accessibility (one branch, no ATMs) and currently closed lobby status, making it most practical for digitally-savvy members or those with local in-person access to the main office.
Justice Federal Credit Union is a federally chartered credit union serving military-connected members with branch locations including Quantico, Virginia.
Profile signals: Active duty military personnel stationed at or near Marine Corps Base Quantico, Military families seeking financial institutions with military-focused services
NBC (NY) Employees FCU now operates as XCEL Federal Credit Union, serving members in New York, New Jersey, and nationwide with banking and loan products.
Profile signals: Current or former NBC (NY) employees or affiliates eligible for XCEL FCU membership, NY/NJ residents seeking a credit union alternative to traditional banks with a long track record
A federally chartered credit union exclusively serving New York Times employees with checking, savings, loans, and VISA products at two NYC locations.
Profile signals: Current and former New York Times employees seeking convenient local banking, NYC-based Times employees wanting to consolidate financial services with an organization aligned with their employer
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