Community-focused credit union invests in workforce development with 8% pay raises for frontline staff

Municipal Credit Union has promoted all 60 of its teller positions to Member Service Representative (MSR) roles, providing an 8% pay increase to affected employees as part of a broader strategy to strengthen member service and career development.

The move eliminates the teller position entirely, elevating branch staff into more consultative roles that handle the full range of member needs — from account servicing to new account openings and loan applications. All promoted employees are union members, and unionized employees collectively represent 55% of MCU’s total workforce.

"We're investing in our people because they're the foundation of everything we do," said Toni-Ann Sforza, MCU’s Chief Operating Officer. "This change gives our branch teams the training and authority to better serve our members while creating clearer career pathways for employees who want to grow with us."

The transition comes as many New York City financial institutions have announced job cuts. MCU added 221 positions in 2025 and plans to grow its workforce from 677 to 841 employees, an increase of 164 positions.

The MSR role reflects changing member expectations and MCU's shift toward relationship-based service. Rather than handing members off between staff for different transactions, MSRs can handle requests from start to finish, reducing wait times and improving service consistency across MCU's branch network. Employees completed more than 18,000 training hours in 2025, and MCU invested $102,000 on professional development programs.

"Our members deserve knowledgeable staff who can help them navigate their financial lives," Sforza added. "By giving our branch employees more tools and training, we're creating better experiences on both sides of the counter."

MCU serves more than 630,000 members across the New York City area, with a focus on working families and public sector employees.

About Municipal Credit Union

Established in 1916 in New York City, Municipal Credit Union is the oldest credit union in New York. By providing a full range of financial services to municipal employees, police officers, firefighters, teachers, health care workers and others, MCU has grown to $4.9 billion in assets and to over 630,000 members. Today, MCU membership is available to anyone who lives, works, worships, or attends school in New York City. MCU is an equal opportunity lender, and deposits are insured up to at least $250,000 by the National Credit Union Administration. To learn more, visit www.nymcu.org.

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