ALEXANDRIA, Va. -- NCUA announced last week that it had approved a charter for Reid Temple AME Church Federal Credit Union in Glenn Dale, Md.
The credit union was organized to serve the members and employees of Reid Temple African Methodist Episcopal Church as well as students and employees of Reid Temple Christian Academy. The credit union has a potential 7,000 members.
"Members will learn to manage and control their economic destinies. The Reid Temple Federal Credit Union will promote financial literacy among its members and serve as a source of credit for provident and productive purposes," the mission statement said.
The credit union will be located at Reid Temple African Methodist Episcopal Church, 11400 Glenn Dale Boulevard, Glenn Dale, Md. According to NCUA, the credit union's business plan also emphasizes financial literacy and access to credit.
Andrews Federal Credit Union and FDIC Federal Credit Union have offered to mentor the fledgling credit union, which plans to open its doors in early 2007.