About Us

The New York Institute of Credit (NYIC) was founded in 1918 as the New York Chapter of the National Institute of Credit (NIC). In 1957 NYIC was granted an absolute charter as an educational corporation by the Board of Regents of the State of New York. As a non-profit organization, NYIC has always attempted to bridge the gap between business theory and business practice. As a result, the faculty of NYIC consists of educators who are primarily credit executives or prestigious and articulate accountants or lawyers who are appreciative of the value of a close alliance of the professions. The synergetic education created out of that special relationship has been effective and acknowledged. The administration of the NYIC is conducted by Trustees, elected Officers and a staff which is headed by the Executive Director.

Students may take selective courses to master various aspects of the intricate profession of credit granting or bank lending, or they may elect to follow one of the programs leading to the Associates Award, the Fellow Award or the 900 Hour Certificate which are listed in this catalog.

The courses required for NYIC Certificates (including electives) as well as the prerequisites listed for specific courses may be waived if transfer credit is granted for coursework satisfactorily completed at another institution or if a student requests exemption via Credit by Examination (CBE). A special examination, proctored by the staff and graded by a member of the faculty will be administered. The CBE required grade for full course credit is 75%.

In addition to its regular course offerings, the NYIC sponsors topical seminars during the year, provides students with the opportunity to take specialized workshops and presents day programs (the Credit Smorgasbord) consisting of workshops in various parts of the United States. Workshops, seminars and Credit Smorgasbords offered by NYIC when taken by Certified Public Accountants are recognized for Continuing Professional Education credits by both the State of New York and the State of New Jersey. A more detailed description of the scope of such continuing education is included in this catalog and is periodically announced by mailings. The Institute also assists company training directors in organizing specialized and custom designed in-company programs of financial education.