Chicago Gets New CU

Register now

CHICAGO - (04/27/06) – NCUA said Wednesday it hasapproved a charter for a new credit union to serve members ofUnified Homeowners of Illinois Association, a group that providescounseling and other services to customers of TWA Corp., a localmortgage bank. The new credit union, the first chartered inIllinois since 2003, is also being sponsored by Greater AustinChildcare Providers and Latina Childcare Providers, according toJoyce Jackson, a field director with the Illinois CU League, whichhelped the groups in the chartering process. "The credit union willstart up without any reserves but will build them from retainedearnings,” Jackson, former head of NCUA’s CDCU office,told The Credit Union Journal. TWA Corp. is providing office spaceand computer equipment to the credit union start-up.

For reprint and licensing requests for this article, click here.