WASHINGTON–Equality Washington, which represents the LGBTQ+ communities, said it continues to work toward creating a federal credit union.
The group notes it remains legal in 29 states to discriminate against people in lending, housing and employment, which is among the reasons it is seeking the charter.
Andrew Tasakos, a loan originator with Equality Mortgages, a partner with Florist Federal Credit Union, which has been working with Equality Washington for more than three years to create the credit union to be called Equality Financial, told the Capitol Hill Times the new credit union is for LGBTQ+ communities and “all who believe in equality.”
The organizational plan calls for piggybacking on Florist FCU’s infrastructure while creating a separate brand for Equality Financial.
Tasakos told the Capitol Hill Times organizers are now seeking to raise between $5 million and 450 million for capital and other organizational costs.
Tasakos told the publication the credit union couldn’t come at a better time, pointing to an announcement by the CFPB that it will be removing enforcement power from the Office of Fair Lending and Equal Opportunity, which will now not be tracking discrimination cases, but rather focus on advocacy and education.