NORTH LITTLE ROCK, Ark.–The brand-new People Trust Community FCU has been granted a federal charter by NCUA.
The credit union is sponsored by the People Trust Community Loan Fund, a non-profit community development financial institution that offers certain loan products to low- and moderate-income communities in Arkansas.
“People Trust is aptly named. After all, it is by shared trust, commitment, and investment that credit unions pool resources to create stronger communities,” NCUA Chairman Todd M. Harper said in a statement. “This new credit union will open doors in central Arkansas to basic financial services like checking accounts for low- and moderate-income households. In the years ahead, we look forward to seeing how People Trust will assist its members in building more secure financial futures with safe, fair, and affordable financial products and services.”
People Trust Community Federal Credit Union will primarily serve people who live, work, worship, or attend school in Pulaski and Saline counties in central Arkansas, and the credit union will be headquartered at 4103 East Broadway Street in North Little Rock, the agency said.
Basic Offerings
It will provide deposit-related products and services the CDFI cannot provide, as well as consumer loans. During its first year of operations, People Trust Community Federal Credit Union will focus on basic savings and lending services.
People Trust Community FCU’s charter became effective Sept. 16, 2022, and the credit union expects to commence operations in early 2023. The credit union is the second federal credit union chartered in 2022.