ALEXANDRIA, Va. — NCUA Chairman JoAnn Johnson applauded the commitment already demonstrated by Pacoima Development Federal Credit Union at its recent grand opening. PDFCU is located in the Northeast San Fernando Valley of California and consists of a significant percentage of underserved communities.

Johnson, who was on hand for the grand opening ceremonies, stated, “The hard working families of this community deserve traditional financial services from an institution they can trust. I'm very pleased that there is a credit union in this community to offer an alternative to predatory lenders and pawnshops.”

She also noted that PDFCU is taking over a building once occupied by a pawnshop. “I am also proud of PDFCU's commitment to financial education, which will empower the community with the necessary resources to achieve the American dream. PDFCU is yet another great example of how credit unions are making a positive impact in underserved communities across America,” Johnson said.
In addition to Johnson and officials from PDFCU, SBA District Director Alberto Alvarado and Los Angeles City Councilman Richard Alarcon were in attendance.

PDFCU currently has 493 members, consisting of Pacoima residents and those who live, work, worship, go to school, or own a business in the Northeast San Fernando Valley, and $2.4 million in assets. It is the only credit union operating in the in Northeast San Fernando Valley. Members of the Pacoima Chamber of Commerce and the Valley Industry & Commerce Association are also eligible to join.