FRESNO, Calif. – The Fresno Economic Opportunities Commission is planning to open a community development credit union that would serve eight counties, from Bakersfield to Sacramento.
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The Economic Opportunities Commission hopes in the next 60 days to hear back from the Department of Financial Institutions and NCUA regarding its charter application for Community First CU.
A business plan calls for the credit union to offer checking and savings accounts, consumer loans and online transactions, as well as payday loans. The loans will be in the $5,000 to $10,000 range. Home loans might be considered later.
