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ALEXANDRIA, Va.-NCUA issued a low-income designated credit union charter last week for Northcountry Cooperative Federal Credit Union located in Minneapolis, Minnesota. Members of cooperatives that are part of the Northcountry Cooperative Development Fund in Minnesota, Wisconsin, Michigan, Iowa, Nebraska, Kansas, Indiana, Illinois, Missouri, Ohio, North Dakota, South Dakota, and Montana will be eligible for credit union membership. NCDF indicated that it sponsored the credit union to make loans to cooperatives and members to secure affordable homeownership through a network of owner-occupied housing cooperatives and to offer socially motivated savers the opportunity to direct their savings to support the development of affordable housing in their communities. “We are pleased to grant this new charter which we believe will enable thousands of Americans to have access to financial self-sufficiency and homeownership who otherwise might not have the opportunity to own a piece of the American Dream,” NCUA Chairman Dennis Dollar commented. “Through the sponsorship with Northcountry Community Development Fund, over 175,000 Americans are potential members in an organization which is positioned to accomplish great results in the `people helping people’ cooperative spirit of credit unions.” The new credit union’s objectives tie in well with NCUA’s Access Across America goals.

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