ALEXANDRIA, Va. – NCUA this afternoon announced the second new credit union charter for 2010, for the Saginaw Chippewa Indian Tribe of Michigan.
The Chippewa Eagle FCU will be based in Mount Pleasant and serve about 7,800 people who are regular members or employees of the Native American tribe.
The new credit union is sponsored by the Saginaw Chippewa, who were recognized as a Native American tribe under the treaties of 1886. The Tribe offers a variety of financial, educational, and economic initiatives. The credit union will be an important extension of these initiatives, offering members and employees a convenient financial institution for saving, borrowing, and providing other financial services. The credit union will also offer financial educational opportunities in conjunction with existing tribal programs.
The credit union start-up expects to open its doors in August upon the completion of its office space. Initially, the credit union plans to offer multiple savings accounts, including regular shares, club accounts, money market shares, share certificates, and share drafts. It also plans to offer a variety of personal loans, including signature, used automobile, and recreational vehicle loans. Planned future services include credit cards, unsecured lines of credit, residential mortgage loans, individual retirement accounts, and member business accounts.
