A new federal credit union headquartered in New York City to serve primarily employees and members of the United Church of Christ – with 4,700 churches and about 745,230 members – is expected to begin operations later this year, the National Credit Union Administration (NCUA) said Tuesday.
The NCUA said Generations United Federal Credit Union, the second federal credit union chartered in 2023, will be headquartered in the Interchurch Center located at 475 Riverside Drive in New York City. The credit union will provide deposit-related products and services as well as consumer loans “tailored to its demographic’s unique needs,” it said. Services provided in its initial years of operations will include share accounts, share draft accounts, share certificates, youth savings, money market, vehicle loans, personal loans, education loans for members of the clergy, credit cards, and ATM access.
The NCUA said the credit union’s charter was effective as of April 14.