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NCUA charters Redeemer FCU
Redeemer Federal Credit Union, the fourth federally chartered credit union in 2015, will serve employees and members of the Redeemed Christian Church of God North America Inc., and is expected to open in December with its headquarters in Greenville, Texas.
NCUA's Office of Consumer Protection granted a single associational common bond charter to Redeemer FCU. During its first year of operations, NCUA said, the credit union will provide the following services, among others:
- regular shares;
- share certificates;
- club accounts;
- vehicle loans;
- direct deposit; and
- cashier's checks.
The Redeemed Christian Church of God North America committed capital for the credit union and is providing free space, improvements and utilities. The Redeemed Christian Church of God North America opened in Detroit in April 1992. There are close to 700 parishes throughout the country today and an estimated membership of 30,000 people.
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