The $311 million Freedom First Credit Union, headquartered in Roanoke, Va., won the $100,000 Next Seed Capital Award from the Opportunity Finance Network.
Deal aimed at helping preserve integrity of Chicago neighborhoods.
“It has never been about the power or mission of the credit union,” CUNA chief pens panel leaders in reply to ABA testimony.
The Durham, N.C.-based credit union was recently featured in the University of Virginia’s Darden School of Business and Tayloe Murphy Center study, “Perdido en la Traduccion: The Opportunity in Financial Services for Latinos,” as a base model of the positive effects of mainstream financial services on the unbanked.
The first community development credit union that the NCUA has chartered in 2010 is focused on serving the underserved in the community that many see as the home of breakfast cereal in the U.S.
The Inspire Community Development Federal Credit Union, a low-income designated community development credit union located in Battle Creek, Mich., is the first credit union the NCUA has chartered in 2010, according to the agency.