Two More Faith-Based CUs Top $10 Million
NEW YORK - They might be a world away from the steadily lengthening list of credit unions topping $1 billion, but the National Federation of Community Development Credit Unions wanted to draw attention to two of its members which have made it past a key benchmark for faith-based institutions - the $10 million mark. Family Federal Credit Union of Wilmington, Calif. and Transfiguration Parish Federal Credit Union of Brooklyn, N.Y. have both topped $10 million in assets. Cliff Rosenthal, executive director of the Federation noted the importance of their achievement. "Surpassing the $10 million mark is an important milestone for any CDCU. We congratulate Family and Transfiguration Parish federal credit unions for this major accomplishment." Transfiguration Parish's field of membership includes 5,000 members of Transfiguration Parish as well as members of the surrounding community of Williamsburg located in Brooklyn, N.Y. Most of the credit union's members are Spanish speaking. Family FCU has 4,010 members, including strong youth participation with over 400 youth accounts. Nationally, Transfiguration Parish FCU and Family FCU join 20 other faith-based CUs in the $10-20 million range. Of all 545 faith-based CUs in the United States, only 40 other credit unions are in a higher asset range.