NEW YORK CITY-A credit union being formed to serve New York City's police officers has yet to receive its charter-more than a half year after its initial launch date.
Organizers had set a target date of May 2008 for opening of The Finest Federal, which will be co-located in Consumers FCU branches in Brooklyn, Manhattan, Queens, and the Bronx.
Keith Stone, Consumers VP, is slated to move to Finest Federal and become the police credit union's CEO.
"It's taking longer than expected but it's still in the works," Stone told Credit Union Journal, acknowledging the economy has played a role in the delay. "There are a few more steps that need to be taken, which is all I can say right now."
Paul McCormack, deputy inspector for the New York City Police Department (NYPD), slated to be the credit union's first chairman, could not be reached for comment.
Originally Reported In CU Journal: Feb. 25, 2008
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