NCUA Charters New Texas Credit Union

The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to the Capital Federal Credit Union in Lubbock, Texas.

Capital Federal Credit Union’s charter became effective Oct. 21, and the credit union expects to begin operations by the end of this year.

The credit union will provide services to a multiple common-bond field of membership, including employees of Capital Mortgage Services of Texas, members of the League of United Latin American Citizens — Lubbock, Texas Council #263, and an underserved portion of Lubbock County consisting of 39 census tracts.

The credit union intends to obtain the low-income credit union designation by focusing on serving the Latin American population in the underserved area.

“The organizers of Capital Federal Credit Union had the vision of providing much-needed financial services to people of color and underserved communities within Texas,” NCUA Chairman Todd Harper said. “Today, that vision has been realized.”

During its first year of operation, Capital Federal Credit Union will provide its members with share savings accounts, vehicle loans, personal loans, online banking and mobile banking.

Later, the credit union plans to offer checking accounts and debit card access.

Capital Federal Credit Union is the third federal credit union chartered in 2021.

Related:

NCUA Awards Credit Union Charter to Lancaster, Pa. CDFI

NCUA Charters Islamic Credit Union That Will Charge No Interest on Loans

Spread the word. Share this post!