ALEXANDRIA, Va. — NCUA announced today that it has chartered Beulah Federal Credit Union in New York.
The low-income designated credit union was chartered to serve the 933 members of the Beulah Church of the Nazarene in Brooklyn. The low-income designation allows the credit union to accept nonmember deposits and qualify for loans and technical assistance from NCUA's Community Development Revolving Loan Fund Program.
Credit union organizers worked with church leaders and NCUA staff to obtain the charter. The credit union plans to provide short- and long-term financial counseling to members with the goal of financial stability through savings programs and fair loans.
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