MILWAUKEE — Corporate Central Credit Union has pledged $200,000 to help two student-led university initiatives cover startup costs as they seek to establish new credit unions.
The corporate announced pledges of $100,000 each to the Seattle University Credit Union Initiative and the George Washington University Credit Union Initiative at Momentum 2026, its annual conference for credit union professionals.
The funding builds on existing relationships with the initiatives and is intended to help them secure the capital needed to become operational credit unions, Corporate Central said. Both initiatives are working toward obtaining charters.
Support During the Chartering Process
Corporate Central amended its membership bylaws to create an associate membership category for credit union initiatives, giving them access to deposit and investment services while they prepare for charter approval. The Seattle initiative joined as an associate member in November 2025, followed by the George Washington initiative in February 2026.
Starting a credit union requires planning, sufficient startup capital and regulatory approval, Corporate Central said.
“Raising the startup capital needed to establish a new credit union is one of the most significant barriers these initiatives face,” said Cisco Malpartida Smith, board chair for both initiatives. “Corporate Central’s $200,000 contribution directly addresses that challenge and brings us meaningfully closer to making these credit unions a reality for our university communities.”
Chris Felton, Corporate Central’s president and CEO, said the pledges reflect its commitment to supporting credit unions of all sizes, including startups.
“It’s what credit unions do. We support our members and look for ways to help all members: small, large, and start-ups,” Felton said.
Student Leadership and Financial Services
The proposed credit unions would give students experience in governance, financial services and member service, with student volunteers expected to fill positions ranging from teller to CEO, according to Corporate Central.
The initiatives have distinct campus missions:
- Seattle University: Based in the Albers School of Business and Economics, the nonprofit initiative is working to charter a credit union serving the university community while providing educational tools, financial access and practical experience for students.
- George Washington University: The student-run initiative seeks to charter a credit union serving the university community in Washington. Its goals include helping students bank affordably, build credit, manage their finances and develop career skills.
“Students will be able to apply what they learn while helping build and lead a financial institution that serves their peers,” Malpartida Smith said.
Felton said supporting the initiatives would introduce more students to the cooperative model and help develop future credit union leaders.
