The federal regulator of credit unions has approved its fourth new federal credit union (FCU) charter for the year to facilitate services for the community of Eatonville, Fla., according to an agency announcement Tuesday.
Named Unity of Eatonville Federal Credit Union, the just-chartered institution is sponsored by the Macedonia Missionary Baptist Church Eatonville Florida, Inc. The National Credit Union Administration (NCUA) said the new credit union is the first federally insured financial institution in the community. It has the agency’s low-income designation and may also qualify as a minority depository institution, it said.
The NCUA, in Tuesday’s release, noted that Eatonville, Fla., was incorporated in 1887 and was one of the first self-governing, all-Black municipalities in the United States.
Unity of Eatonville FCU, expected to begin operations early next year, will primarily serve people who live, work, worship, attend school, or participate in programs to alleviate poverty or distress in the Eatonville community, the NCUA said.