NCUA Awards Credit Union Charter to Lancaster, Pa. CDFI

The National Credit Union Administration announced Tuesday that it was awarding a federal charter and share insurance fund coverage to establish the Community First Fund Federal Credit Union in Lancaster, PA.

The credit union will be operated by the Community First Fund, a Community Development Financial Institution. Establishment of the credit union is partially being funded by philanthropist MacKenzie Scott, who has provided $10 million to the group to support its work on racial equity and economic mobility. Scott is the ex-wife of former Amazon CEO Jeff Bezos.