ST. LOUIS – NCUA has granted a federal charter as well as National Credit Union Share Insurance Fund coverage to African Diaspora FCU here, marking the second new federal charter of 2025.
African Diaspora Federal Credit Union will primarily serve members of the African Diaspora Council, Inc., headquartered in St. Louis. The agency said the Council’s mission includes promoting community self-help and financial and wealth-management education.
The credit union plans to open its doors later in 2025 and begin by offering members basic savings and lending services that will include:
- Share accounts
- Share draft accounts
- Auto loans
- Personal loans
‘Dedicated to Self Help’
“Credit unions have been the answer to financial inclusion for more than 90 years. It’s appropriate that a community organization dedicated to self-help, self-determination, and promoting financial security would establish a new federal credit union,” NCUA Chairman Kyle S. Hauptman said in a statement. “Congratulations to the organizers who took this important step and thank you to the NCUA staff who guided them through the chartering process.”
