If everything goes according to plan, the East River DevelopmentAlliance, a community development organization headquartered inLong Island City, N.Y., will open the first minority-owned creditunion in the New York City borough of Queens this April.

The ERDA Federal Credit Union will also be the first creditunion chartered during the Obama administration and the firstcredit union chartered in New York State in a decade, theorganizers said.

In order to build excitement for the new CU and to finish offthe last of its financial requirements, the organizers have mounteda campaign to get 90 people or institutions during a 90-day periodto donate at least $1,000 apiece to the effort. The credit unionhas already raised $49,000 from 29 donors and has 44 day left, asof this writing, to raise the remaining $46,000 to meet theself-imposed deadline.