The National Credit Union Administration has granted its fourth new federal charter of 2021.
Unity of Eatonville Federal Credit Union in Eatonville, Florida, will be able to serve residents in the Eatonville community who are currently without a local financial institution, the agency said Tuesday.
“As I have often said, financial inclusion is the civil rights issue of our time,” NCUA board member Rodney E. Hood said in a press release. “By chartering the Unity of Eatonville Federal Credit Union, this community is responding to a need in a minority and underserved area, which will ultimately improve financial inclusion and financial access.”
Unity of Eatonville Federal Credit Union’s charter went into effect Tuesday, and the credit union expects to begin operating in early 2022.
With its low-income designation, the credit union will cater to those who live, work, worship, attend school or participate in programs to alleviate poverty or distress in the Eatonville community.
During its first year of operation, Unity of Eatonville Federal Credit Union will emphasize saving and checking accounts, as well as auto loans.
“This charter is a milestone event,” NCUA Chairman Todd M. Harper said in the release. “Eatonville was incorporated in 1887 and was one of the first self-governing, all-Black municipalities in the United States. ... I am very proud to say the NCUA has chartered the first federally insured financial institution in this community.”
The NCUA has previously granted federal charters to
