ALEXANDRIA, Va. — NCUA Chairman JoAnn Johnson applauded thecommitment already demonstrated by Pacoima Development FederalCredit Union at its recent grand opening. PDFCU is located in theNortheast San Fernando Valley of California and consists of asignificant percentage of underserved communities.

Johnson, who was on hand for the grand opening ceremonies,stated, “The hard working families of this community deservetraditional financial services from an institution they can trust.I'm very pleased that there is a credit union in this community tooffer an alternative to predatory lenders and pawnshops.”

She also noted that PDFCU is taking over a building onceoccupied by a pawnshop. “I am also proud of PDFCU's commitment tofinancial education, which will empower the community with thenecessary resources to achieve the American dream. PDFCU is yetanother great example of how credit unions are making a positiveimpact in underserved communities across America,” Johnsonsaid.
In addition to Johnson and officials from PDFCU, SBA DistrictDirector Alberto Alvarado and Los Angeles City Councilman RichardAlarcon were in attendance.

PDFCU currently has 493 members, consisting of Pacoima residentsand those who live, work, worship, go to school, or own a businessin the Northeast San Fernando Valley, and $2.4 million in assets.It is the only credit union operating in the in Northeast SanFernando Valley. Members of the Pacoima Chamber of Commerce and theValley Industry & Commerce Association are also eligible tojoin.