BROOKLYN, N.Y. – NCUA on Friday said it has approved a charter for a low-income credit union to be run by tiny Beulah Church of the Nazarene, only the fifth new credit union chartered this year. The faith-based credit union will serve the 933 members of the church and will be qualified to participate in NCUA’s Community Development Loan Program as a low-income designate. Beulah FCU plans to provide short- and long-term financial counseling to members with the goal of establishing financial stability through savings programs and loans at fair rates.
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