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The NCUA granted its fourth federal credit union charter of the year on Tuesday to allow Unity of Eatonville Federal Credit Union to begin its new journey to serve it community.
Unity of Eatonville FCU, located north of Orlando, Fla. in the Town of Eatonville, expects to begin serving members sometime early in the New Year.
"This charter is a milestone event," said NCUA Chairman Todd Harper. "Eatonville was incorporated in 1887 and was one of the first self-governing, all-Black municipalities in the United States. I am very proud to say the NCUA has chartered the first federally insured financial institution in this community."
"Congratulations to all who worked on this groundbreaking charter," said NCUA Vice Chairman Kyle Hauptman. "Your dedication and commitment to the success of Unity of Eatonville Federal Credit Union will not only benefit your community but also inspire others seeking to own and control their financial future through the cooperative model."
NCUA Board Member Rodney Hood said, "As I have often said, financial inclusion is the civil rights issue of our time. By chartering the Unity of Eatonville Federal Credit Union, this community is responding to a need in a minority and underserved area, which will ultimately improve financial inclusion and financial access. I wish them well and hope that other credit union organizers can learn from the chartering of this institution."
According to a statement from the NCUA, Unity of Eatonville FCU will initially focus on basic savings and lending services, including:
- Share (savings) accounts.
- Sharedraft (checking) accounts.
- Certificates of deposit.
- New and used auto loans.
- Unsecured loans.
- Direct deposit.
- Wire transfers.
- Debit/ATM access.
- Credit counseling.
Harper added, "Small, low-income, and minority credit unions are vital to the continued health of the credit union system and are often the only providers of safe, fair, and affordable financial services in communities of color, underserved areas, and rural communities. I applaud the organizers and the NCUA staff who have worked so hard to make this day possible."
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Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
