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The NCUA announced Wednesday that it has granted a federal charter and Share Insurance Fund coverage to Young Community Federal Credit Union of Shively, Kentucky, a suburb of Louisville.
“Young Community will open doors to insured financial services in an area where more than one in four residents do not use a federally insured financial institution regularly,” NCUA Chairman Todd Harper said. “The organizers of this new credit union have deep roots in their community, and they will address economic disparities and provide financial education to their members.”
The credit union is sponsored by the Young Nonprofit Foundation, a charitable organization that is focused on providing low-income Kentucky families with access to quality childcare and education.
Field of Membership
Young Community Federal Credit Union will primarily serve people who live, work, worship, or attend school in Shively. The credit union initially will operate from the foundation’s headquarters at 2200 Greene Way in Louisville.
During its first year of operation, the credit union will focus on basic savings and lending services and electronic access.
The credit union’s charter became effective November 8, and the credit union expects to begin operations as soon as possible. The credit union is the third federal credit union chartered by the NCUA in 2023.
NCUA
