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Credit Unions Work Together for the Rare Launch of a New Credit Union; Shows Congress, World Power of CU Cooperation

At the end of the month the new Comunidad Latina Federal Credit Union, that was chartered to serve the designated underserved area of Santa Ana and has been a more than year-long labor of love, will open its doors to potential members.

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SANTA ANA, Calif. — At the end of the month the new Comunidad Latina Federal Credit Union, that was chartered to serve the designated underserved area of Santa Ana and has been a more than year-long labor of love, will open its doors to potential members.

“Actually, it’s gone pretty well,” Orange County Teachers Federal Credit Union President and CEO Rudy Hanley, who initiated the new credit union, explained. The biggest thing was the charter, which NCUA granted last month. Now the group of 17 credit unions that are aiding this start-up just has to wrangle, persuade and cajole the local government that they have enough parking to support an ATM; they are just one space short, according to Hanley.

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