Editor’s Note: This story has been updated from its original reporting.
COLUMBIA, Md.– After issuing no new federal charter through the first 10 months of the year, NCUA has announced the granting of two new federal charters.
In Maryland, the agency has approved the charter, along with Share Insurance Fund coverage, to All Peoples United Federal Credit Union (APUFCU), while it also also issued a charter to a new CU in California.
All Peoples United Federal Credit Union is a multiple common bond credit union that will primarily serve members of First Trust Team (F2T) Corp. in Columbia, and the Community Solidarity Network (COSNET) located in Upper Marlboro, Md.
“Both organizations are heavily driven by the same mission to support Cameroonians and broader African diaspora communities,” NCUA said.
According to the agency, during its first year of operations, APUFCU plans to offer its members savings products and lending services, including:
- Share accounts
- Share draft accounts
- Signature loans
- Auto loans
‘Pleased to Grant Charter’
“NCUA is pleased to grant a federal charter to All Peoples United Federal Credit Union,” NCUA Chairman John Crews said in a statement. “This new credit union reflects our ongoing commitment to expanding access to safe, affordable financial services and empowering communities through wealth building. We look forward to seeing All Peoples United Federal Credit Union provide valuable resources to its members.”
New CU Charter In California
Separately, the agency also announced it has granted a federal charter and Share Insurance Fund coverage to Accion Opportunity Federal Credit Union, located in Commerce, Calif.
Accion Opportunity Federal Credit Union is a multiple common bond credit union, with a potential membership of about 70,000 persond, according to NCUA, and will serve members of the Accion Opportunity Member Alliance and employees of the Accion Opportunity Fund Community Development.
Accion Opportunity FCU was chartered for the purpose of making member business loans, NCUA said, adding It will provide services to low-income individuals and small business owners to promote financial stability and business growth through affordable and accessible products.
During the first year of operations, Accion Opportunity FCU plans to offer its members savings and lending products that will include:
- Business secured and unsecured loans
- Consumer and business share accounts
- Consumer and business share draft accounts
- Personal loans
- Business equipment finance loans
“Today marks an important milestone as we welcome this newly chartered credit union into the cooperative system,“ Crews said in a statement. “Its commitment to expanding small business lending and serving communities in need of financial services reflects the very core of what credit unions were created to do. NCUA looks forward to seeing the positive impact the credit union will bring to the people it serves.”
Accion Opportunity Federal Credit Union’s charter became effective on October 5, 2026, making it the first federal credit union chartered in 2026.
CU Shuttered Earlier This Year
In August of this year, NCUA closed African Diaspora FCU in St. Ann, Mo., just a little over a year after it was granted its charter, as the CU Daily reported here. According to NCUA, it made the decision to liquidate African Diaspora FCU after determining the credit union was insolvent and in violation of numerous provisions of the Federal Credit Union Act and NCUA Regulations, including operating in an unsafe and unsound manner.
