National Cooperative Bank launches correspondent banking program for mission-based credit unions
ARLINGTON, VA (August 16, 2022) — National Cooperative Bank (NCB), a leading financial institution dedicated to providing banking solutions to cooperatives and socially responsible organizations nationwide, is pleased to announce a new fee-free correspondent banking program for small community development credit unions, low-income designated credit unions and minority depository institutions nationwide.
“As a mission-focused financial institution, NCB wants to make a greater impact to help community development credit unions serve their members”, stated Tom Mayhew, Senior Vice President. “NCB’s fee-free correspondent banking program designed for qualified mission-oriented credit unions provides settlement services, sweep accounts, Federal Reserve Bank (FRB) respondent service fees, wire transfer services and committed and advised lines of credit in addition to other correspondent banking services with no NCB service fees.”
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