ELCA Federal Credit Union commences operations to serve its members
NAPERVILLE, IL (June 20, 2016) — The Illinois Credit Union League is very pleased to welcome its new member, the ELCA Federal Credit Union. The Evangelical Lutheran Church in America (ELCA) was granted a federal charter on July 7, 2015 to create the ELCA Federal Credit Union, the first federal charter in Illinois in the last ten years. The credit union commenced operations in a grand opening ceremony to serve its members on June 6, 2016.
The new credit union will provide products and services to the denomination’s 3.8 million members in nearly 10,000 congregations and employees of the ELCA’s 65 synods and church wide organization. ELCA FCU’s office is located in Chicago, but the credit union has committed to a strong technology plan to better serve its member base spread nationwide.
Luis A. Reyes, Jr., VP/COO of ELCA FCU said, “The ELCA has congregations and members across the US and the Caribbean and employees who are deployed across the globe performing God’s work. With this in mind, we wanted to create an organization that would offer all of the technological access points and functionality that consumers have come to expect, all under a cooperative that shares their values and has their best interest at heart.”
“Credit unions are structured as financial cooperatives, owned by consumers who are members, and exist to serve them. ELCA Federal Credit Union has great staff, management and a unified membership base therefore, setting them up to succeed. The League looks forward to working with ELCA Federal Credit Union and offer our continued support and guidance,” said Steve Olson, EVP and General Counsel of the Illinois Credit Union League.
The Illinois Credit Union League would like to congratulate the ELCA Federal Credit Union leadership and staff on the grand opening and wish them the best for a successful growth.
About Illinois Credit Union League
The Illinois Credit Union League (ICUL) is the primary trade association for 212 state and federal credit unions in Illinois. It focuses on providing legislative and regulatory advocacy, compliance assistance and information, and a wide range of educational and training services to those credit unions, who in turn serve approximately 3.4 million members. More information can be found at www.icul.com.