The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to Everest Federal Credit Union of Jackson Heights (Queens), N.Y.
This is NCUA's first such charter for the year, said NCUA spokesman John Fairbanks.
“The first credit union to serve the Nepalese diaspora, Everest Federal Credit Union is ideally situated to provide affordable financial services to the Nepalese community.” NCUA chairman J. Mark McWatters stated. “I congratulate them on their new charter.”
Everest FCU will serve the approximately 15,000 members of the Non-Resident Nepalis National Coordination Council of USA., an organization that “preserves the cultural heritage” of the Nepalese community while advocating for the welfare and rights of its members.
The council is part of the Non-Resident Nepali Association, which helps Nepalese community organizations and members “foster friendship and understanding” in the U.S.
The new credit union will provide members access to “much-needed” affordable financial services, NCUA said.
During its first year of operations, the credit union plans to offer regular shares, share drafts, share certificates, IRAs, unsecured loans, share-secured loans, auto loans, credit cards, money orders, cashier’s checks, wire transfers and electronic banking.
