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Johnson Cuts Ribbon at New Chicago LICU

CHICAGO - Southside Community Federal Credit Union, which was recently granted a charter by NCUA, opened its doors Nov. 8 with the traditional ribbon cutting ceremony featuring NCUA Vice Chair JoAnn Johnson. Johnson traveled to Chicago to participate in the ribbon cutting ceremony for the new low-income credit union, which...

By Sarah Snell Cooke | Updated on November 18, 2003

CHICAGO – Southside Community Federal Credit Union, which was recently granted a charter by NCUA, opened its doors Nov. 8 with the traditional ribbon cutting ceremony featuring NCUA Vice Chair JoAnn Johnson. Johnson traveled to Chicago to participate in the ribbon cutting ceremony for the new low-income credit union, which is the only credit union in the financially distressed community. “Southside Community Federal Credit Union is demonstrating what NCUA’s Access Across America initiative is all about – providing access to those who need it most,” she said. “Credit unions such as Southside Community Federal Credit Union are prime examples of the work of credit unions serving the `unbanked’ and underserved.” She also complimented the mentorship and partnership of other credit unions and banks in the area to establish the fledgling credit union. The community chartered credit union has a potential membership of 853,392 in 303 census tracts, most of which are considered low-income. In addition to traditional financial services, SSCFCU is offering financial literacy and homeownership counseling. [email protected]

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