Heritage Hub Federal Credit Union board members, its President/CEO Bolaji “BJ” Ajimotokan, second from right, and local NCUA officials in Houston attend a video conference call with NCUA officials in Washington, D.C., March 7, when it received its charter.
The NCUA announced Tuesday that it has granted a charter to Heritage Hub Federal Credit Union of Houston — the NCUA’s first de novo charter of 2025.
The NCUA said Heritage Hub’s charter became effective on March 7 to primarily serve people who live, work, worship or attend school in an 84-census-tract community in Harris County. It will initially offer members basic savings and lending services, including share accounts, share draft accounts, auto loans and personal loans.
President/CEO Bolaji “BJ” Ajimotokan, 54, told CU Times that he grew up in Nigeria, first came to the United States in 1998 as a computer technician and moved to Houston in 2001.
Ajimotokan said he founded the credit union to serve Africans and African-Americans in the Houston metro area. Ajimotokan, who operates a tax business, said many in his community are affluent, but some “have no clue about financing.” He said he has encountered people who have been saddled with 21% interest car loans and had their cars repossessed after only a few months.
The credit union has its office in a small strip shopping center, and Ajimotokan said he expects it to begin operation in mid-May. His board’s year-end goals include attracting 50 to 60 members through car loans, and building the credit union’s assets to $2 million to $5 million.
Kyle Hauptman, who became NCUA chair Jan. 20, said encouraging new charters and streamlining the chartering process have been among his priorities since he joined the NCUA Board in December 2020.
“I want to congratulate the organizers for bringing their vision of a cooperative financial services institution to reality,” Hauptman said in a news release.
“Credit unions have represented financial inclusion for tens of millions of Americans for more than 90 years, and each time we approve a new charter, we are backing the faith people have in themselves to chart their financial futures,” he said.
Contact Jim DuPlessis at [email protected].
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