The National Credit Union Administration awarded a federal charter and share insurance coverage to The Morning Star Federal Credit Union in Lame Deer, Montana.
The NCUA announced that the credit union's charter took effect on Nov. 18, and operations are expected to commence sometime in 2023. The Morning Star is sponsored by
"It's fitting that, during National Native American Heritage Month, we are chartering a credit union that will increase access to safe, fair and affordable financial products in an underserved, primarily Native American community. … With its charter now granted, The Morning Star Credit Union will help its members to build more secure financial futures," Todd Harper, chairman of the NCUA, said in a press release Monday. "It gives me great satisfaction knowing the NCUA helped the organizers make this day possible."
Using its low-income designation, the credit union will provide financial assistance to those who live, work, worship or attend school in Big Horn and Rosebud counties in the state, as well as those involved in programs for combating poverty in the regions.
The NCUA chartered three other credit unions this year:
