SAFCU expands membership, hopefully will push them over $1 million

ALEXANDRIA, Va.-In a small ceremony on August 31, acting NCUA Chairman Dennis Dollar presented Shiloh of Alexandria Federal Credit Union (SAFCU) with a charter expansion from a church based credit union to encompass the entire Parker Gray section of Alexandria, Va., which is often referred to as the “inner city.” Dollar was on hand to promote his faith based initiatives, as well as was Lisa Trevino Cummins, associate director of the White House task force on faith-based and community services. “There’s a lot of interest. There’s a lot of organizations who see the President’s efforts and commitment as a boost to what they are already doing,” Trevino Cummins said. She added that her office has not heard too much opposition to President George W. Bush’s faith-based initiative and have even received the support of Democratic lawmakers including Senator Joe Lieberman (N.Y.) and Congressman Tony Hall (Ohio). During the charter expansion ceremony, SAFCU officers handed out plaques of acknowledgement to a few people who have helped to tiny credit union along the way, including NAFCU Senior Vice President and General Counsel Bill Donovan, who wrote the credit union’s charter; former NCUA Director of the Office of Community Development Credit Unions Joyce Jackson; Pentagon Federal Credit Union Vice President of External Relations Gordon Levine of SAFCU’s mentor credit union; and National Federation of Community Development Credit Unions Executive Director Cliff Rosenthal, who’s organization provided practical and financial support. Additionally, Alan Ferguson of Capital One was on hand to present the credit union with a $175,000 grant. The community surrounding SAFCU adds a potential of 3,500 new members to the tiny credit union. Currently, SAFCU has 653 members solely from the Shiloh Baptist Church congregation and at sits just under $1 million in assets. SAFCU has approved more than $1.5 million in loans to its members in the past eight years. [email protected]