ALEXANDRIA, Va.—Redeemer FCU Friday became the fourth new federally chartered credit union of 2015.
NCUA’s Office of Consumer Protection granted a single associational common bond charter to RFCU to serve members and employees of the Redeemed Christian Church of God North America, Inc.
“Congratulations to everyone who worked to make this day possible,” NCUA Board Chairman Debbie Matz said in a statement. “The members and employees of the Redeemed Christian Church of God North America will now have access to affordable financial services through their new credit union. This will be a source of affordable credit and financial education for potentially 30,000 church members.”
The credit union will be headquartered in Greenville, Texas, and plans to open in December. During its first year of operations, the credit union plans to offer:
- regular shares
- share certificates
- club accounts
- unsecured loans
- share-secured loans
- vehicle loans
- direct deposit
- money orders
- cashier’s checks
The Redeemed Christian Church of God North America committed capital for the credit union and is providing free space, improvements and utilities. The church opened in Detroit in April 1992. There are nearly 700 parishes throughout the country today, with an estimated membership of 30,000 people.