Community Groups Sponsor NewCDCU

Register now

ST. LOUIS - (05/31/05) -- Eight area relief organizations havepartnered to charter a new community development credit union servethe area's low-income communities. Choices FCU is scheduled to opennext month with the help of a $25,000 grant from the Annie E. CaseyFoundation in Baltimore and assistance from BeyondHousing/Neighborhood Housing Services of St. Louis; Better FamilyLife; Catholic Commission on Housing; Good Samaritan ServiceCenter; Habitat for Humanity St. Louis; Justine Peterson Housingand Reinvestment Corp.; Community Action of St. Louis County; andthe Urban League of Metropolitan St. Louis. The new credit union isbeing headed by Phil Minden, former director of communitydevelopment for St. Louis County, who is its board chairman.Choices FCU has obtained a designation as a 'low income creditunion' from NCUA, enabling it to accept non-memberdeposits.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER