Agency announces chartering of new community credit union serving areas surrounding the state’s capital.
The NCUA announced Tuesday that it has granted a federal charter and share insurance fund coverage to a new credit union—People Trust Community Federal Credit Union in Little Rock, Ark.
The credit union is the second to be chartered this year. It is sponsored by the People Trust Community Loan Fund, a non-profit CDFI that offers certain loan products to low- and moderate-income communities in Arkansas.
About the Credit Union
The community credit union primarily will serve people who live, work, worship, or attend school in Pulaski and Saline counties in central Arkansas, and the credit union will be headquartered at 4103 East Broadway Street in North Little Rock.
It will provide consumer loans and deposit-related services that the CDFI cannot provide, according to the NCUA. During its first year of operation, the credit union will focus on basic savings and lending services, agency officials said.
The credit union’s charter became effective on Sept. 16 and the institution is expected to begin operations early next year.
“This new credit union will open doors in central Arkansas to basic financial services like checking accounts for low- and moderate-income households,” NCUA Chairman Todd Harper said. “In the years ahead, we look forward to seeing how People Trust will assist its members in building more secure financial futures with safe, fair, and affordable financial products and services.”