NCUA charters For Members Only Federal Credit Union
New Credit Union Will Serve Alpha Kappa Alpha Sorority
ALEXANDRIA, VA (February 9, 2023) — The members of Alpha Kappa Alpha Sorority (AKA), Inc., will now have a credit union following the National Credit Union Administration’s granting of a federal charter and Share Insurance Fund coverage to For Members Only Federal Credit Union in Chicago, Illinois.
“It’s perfectly fitting that an organization whose members pledge to be of ‘Service to All Mankind’ has created a credit union,” NCUA Chairman Todd M. Harper said. “This charter is also in keeping with AKA’s current initiatives to assist members in building economic wealth, promote social justice, and uplift communities, all of which are fundamental to the statutory mission of credit unions. Congratulations to AKA’s leadership for bringing this effort to fruition. I look forward to watching their credit union grow and thrive.”
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 135 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.