HOUSTON – The Neighborhood Centers Inc., a low-income community development corporation, has submitted an application to the Texas CU Division to charter a credit union for the mostly Hispanic southwestern portion of the city.
The group has committed a $500,000 equity grant to the project, which also has pledges of $100,000 non-member deposits from the National Federation of CDCUs and Capital Bank of Dallas, according to Randy Martinez, who is managing the project. Several other banks have expressed interest in providing non-member deposits, also.
The potential field of membership of 150,000 is in the area known as Gulfton/Sharpstown and is comprised of as many as 70 nationalities, said Martinez.
“We want to provide some services to these individuals who don’t have any banking relationships whatsoever,” Martinez told The Credit Union Journal yesterday.
The last state chartered credit union in Texas was in 2004.
