EATONVILLE, Fla.–Unity of Eatonville FCU here has become the latest to be granted a federal charter by NCUA, the fourth FCU to receive a charter in 2021. Plans call for operations to commence in 2022.
Sponsored by the Macedonia Missionary Baptist Church Eatonville Florida, Inc., Unity of Eatonville FCU will provide financial products and services to a community that currently does not have a local financial institution, according to NCUA.
The new credit union will have a low-income designation, and will primarily serve people who live, work, worship, attend school, or participate in programs to alleviate poverty or distress in the Eatonville community, which is located six miles north of Orlando. The credit union also may qualify as a minority depository institution, NCUA said.
During its first year of operations, UEFCU will focus on basic savings and lending services, including shares, share drafts, CDs, new and used auto loans, unsecured loans, direct deposit, wire transfers, debit/ATM access and credit counseling.
NCUA Board Statements
- “This charter is a milestone event,” NCUA Chairman Todd M. Harper said. “Eatonville was incorporated in 1887 and was one of the first self-governing, all-Black municipalities in the United States. I am very proud to say the NCUA has chartered the first federally insured financial institution in this community.”
- “Congratulations to all who worked on this groundbreaking charter,” said NCUA Vice Chairman Kyle S. Hauptman. “Your dedication and commitment to the success of Unity of Eatonville Federal Credit Union will not only benefit your community but also inspire others seeking to own and control their financial future through the cooperative model.”
- “As I have often said, financial inclusion is the civil rights issue of our time,” said NCUA Board Member Rodney Hood. “By chartering the Unity of Eatonville Federal Credit Union, this community is responding to a need in a minority and underserved area, which will ultimately improve financial inclusion and financial access. I wish them well and hope that other credit union organizers can learn from the chartering of this institution.”