In the Spring of 1999, two Latinas at the New York University decided that there was a need for an organization which would not only contribute to the advancement of the NYU Latino community but also create a voice and a sisterhood for Latinas on campus. In addition, the organization would also provide community service to the university as well as the surrounding New York City community.

These two women sought out the Hermanas of Sigma Lambda Upsilon/Señoritas Latinas Unidas Sorority, Inc., and in the Spring of 1999, they established the Omicron Chapter of Sigma Lambda Upsilon/Señoritas Latinas Unidas Sorority, Inc., at NYU. The chapter founders are Arleni Molina and Melodie Maldonado.   In the Fall of 2000, City College joined the Omicron Chapter with the addition of the Beta Line, Gisselina Yaport.

Despite its small size, the Omicron Chapter has instituted many of the following Sorority traditions on NYU's campus:

• RAICES - a week long series of events that is simultaneously held throughout each Chapter of Sigma Lambda Upsilon
• National Latina Conference - a weekend long celebration of the accomplishment of the Latina Community. The weekend events include workshops, a banquet, a networking social, and a party.
• Lupus Foundation - the Omicron Chapter has established an on-going volunteer program with the Lupus Foundation.
• Other community services - El Festival Del Barrio, NYCares Clean-up Day, East Harlem Christmas Party and the Holiday Basketball Tournament at Roberto Clemente Park