NCUA charters Community HOPE Federal Credit Union
New credit union will provide affordable financial services to a low-income community in Lincoln, Nebraska
ALEXANDRIA, VA (June 12, 2017) — The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to Community HOPE Federal Credit Union in Lincoln, Nebraska.
Community HOPE will be able to serve approximately 40,000 residents who live, work, worship, attend school, participate in associations headquartered in, or participate in programs to alleviate poverty or distress located in a prescribed community in Lincoln from a service facility in Lincoln’s downtown.
The new credit union will provide residents in the prescribed community access to affordable financial services. During its first year of operations, the credit union plans to offer:
- Regular shares
- Share drafts
- Short-term unsecured loans
- Share-secured loans
- Auto loans
- Money orders
- Cashier checks
- Wire transfers
The credit union also plans to offer financial literacy training programs.
NCUA also granted Community HOPE a low-income designation, making it eligible for certain benefits—including NCUA grants and low-interest loans as well as an exemption from the member-business lending loan limit—to help it better serve low-income members in its community.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.