ELCA News Service
July 7, 2015
ELCA receives federal charter to open credit union
15-41-MRC
CHICAGO (ELCA) – The Evangelical Lutheran Church in America (ELCA) was granted a federal charter July 7 to create the ELCA Federal Credit Union. The new credit union will provide products and services to the denomination’s 3.8 million members in nearly 10,000 congregations and employees of the ELCA’s 65 synods and churchwide organization. The credit union joins the three existing financial services ministries of the ELCA.
The charter was granted to the ELCA through the Office of Consumer Protection of the National Credit Union Administration (NCUA) – an independent federal agency created by Congress to regulate, charter and supervise federal credit unions.
“This new credit union is a very practical example of ‘We Are Church Together,’” said the Rev. Elizabeth Eaton, ELCA presiding bishop. “The services provided by the credit union will be a great support to individual members, congregations and synods.”
Read the full news release here.
