Community Groups Sponsor CDCU
Eight area relief organizations have partnered to charter a new community development credit union to serve the area's low-income communities.
Choices FCU is scheduled to open next month with the help of a $25,000 grant from the Annie E. Casey Foundation in Baltimore and assistance from Beyond Housing/Neighborhood Housing Services of St. Louis, Better Family Life, Catholic Commission on Housing, Good Samaritan Service Center, Habitat for Humanity St. Louis; Justine Peterson Housing and Reinvestment Corp., Community Action of St. Louis County and the Urban League of Metropolitan St. Louis.
The new credit union is being headed by Phil Minden, former director of community development for St. Louis County, who is its board chairman. Choices FCU has obtained a designation as a "low-income credit union" from NCUA, enabling it to accept non-member deposits.