Beulah Federal Credit Union

Beulah Federal Credit Union

Beulah Federal Credit Union is a faith-based financial institution that is owned and operated by the Beulah Church of the Nazarene in Brooklyn, New York. It received its charter from the National Credit Union Administration (NCUA) on October 19, 2007, with the mission to serve the church’s 933 members. It also received NCUA low-income designation, which enables it to accept deposits from non-members and to qualify for loans and technical assistance through the NCUA Community Development Revolving Loan Fund Program. [ [http://www.cutimes.com/article.php?article=34864, “NCUA Charters New Faith-Based LICU,” Credit Union Times, October 19, 2007] ]

In creating the credit union, the church leadership noted it would focus primarily on financial counseling, savings programs and loans. [ [http://www.accessmylibrary.com/coms2/summary_0286-33301717_ITM “NCUA Grants Charter for New Faith-Based CDCU,” Credit Union Journal, October 29, 2007 (library card access required)] ]

In its first six months of operation, the credit union accumulated US$11,874 in assets. [ [http://www.ibanknet.com/scripts/callreports/getbank.aspx?ibnid=usa_1000000003 “Beulah Federal Credit Union,” iBanknet] ]

References

External link

* [http://www.beulahnaz.org/site/cpage.asp?cpage_id=180002103&sec_id=180001043 Beulah Federal Credit Union web site]


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