The first new credit unioncharter of 2015 is also the first credit union ever chartered toserve law enforcement personnel in New York City. Its name reflectsits field of membership.

The doors will officially open at 11 a.m. today for The Finest Federal Credit Union, chartered to serve New YorkCity's law enforcement community. The event coincides with the170th anniversary of the New York Police Department, better knownas the NYPD.

According to the NCUA, the Finest FCU received its initialcapital from AmTrust Financial Services Inc., an $11.3 billioncompany that provides small businesses with property and casualtyinsurance.

“The law enforcement community serves and protects our citizensevery day, and now The Finest Federal Credit Union will serve andprotect the financial needs of law enforcement,” Board Chairman andretired NYPDChief James Shea said.

Invited guests to the Wednesday ribbon-cutting include New YorkCity Mayor Bill de Blasio, NCUA Chairman Debbie Matz and NYPDDetective Steven McDonald, who was shot on July 12, 1986, andremains the most seriously injured NYPD member to survive hisinjuries. McDonald also is the credit union's first member.

The credit union, headquartered at 59 Maiden Ln. in Manhattan,will offer special services geared toward police officers' needs.Those services include special loans for new recruits to financepolice equipment and uniforms, loans for small businesses that maybe part of an officer's retirement planning, and overall financialplanning services geared toward officers from the time they enterthe academy through retirement.

“Our members will deal with real people who understand thepersonal and financial burdens that come with our job,” creditunion board member and president of the New York City CorrectionOfficer's Benevolent Association Norman Seabrook said. “It is longoverdue and something we are proud to be a part of.”

The last U.S. credit union to be chartered was Lutheran FederalCredit Union, a part of the $1.8 Lutheran Church Extension Fund, inSt. Louis, Mo. on Dec. 23, 2014, according to NCUA resources. Itwas one of three new credit unions chartered last year.

The last credit union to be chartered in New York State was theEast River Alliance Development Federal Credit Union in Long IslandCity in 2009. It has since become Urban Upbound Federal CreditUnion, which posted $745,215 in assets at year-end 2014.