HOUSTON– NCUA said it has granted the first federal credit union charter of the year along with NCUSIF coverage to Heritage Hub Federal Credit Union in Houston.
According to the agency, Heritage Hub will primarily serve people who live, work, worship, or attend school in an 84-census-tract community within Harris County, Texas. Heritage Hub plans to open its doors in mid-2025.
“I want to congratulate the organizers for bringing their vision of a cooperative financial services institution to reality,” NCUA Chairman Kyle S. Hauptman said in a statement. “Encouraging new charters and streamlining the chartering process have been priorities for me since I joined the NCUA Board. Credit unions have represented financial inclusion for tens of millions of Americans for more than 90 years, and each time we approve a new charter, we are backing the faith people have in themselves to chart their financial futures.”
Initial Products
The credit union said initial products will include:
- Personal loans
- Share accounts
- Share draft accounts
- Auto loans