Proposed Federal Credit Union for Justice-Involved People
Discrimination in financial services remains a significant barrier for millions of justice-involved individuals—disproportionately affecting people of color, women, and the LGBTQ+ community. Excluded from traditional banking, many are forced to rely on check cashers, payday lenders, and other high-cost, often predatory alternatives. These non-bank providers rarely offer the tools or support needed to build savings, establish credit, or achieve long-term financial stability.
That's why we're committed to starting a new credit union—a member-owned, not-for-profit financial cooperative—designed to provide a trusted financial home for justice-involved individuals and their families. The credit union will offer safe, affordable financial products, along with education and mentoring to help people improve their financial health and work toward economic mobility.
The National Credit Union Administration (NCUA), the federal regulator of credit unions, has approved our request to move forward with a charter application, with First Step Alliance designated as the membership association.
Mission
To promote economic empowerment and provide a financial home for justice-involved individuals by creating a not-for-profit financial cooperative tailored to their unique needs, designed to put people first.
Vision
We envision a world that embraces inclusion, acceptance, and opportunity for all. Our new credit union aspires to help end discrimination in financial services based on race, gender, identity, ethnicity, religion, or past mistakes.
Coalition of Support
Community organizations, advocacy groups, credit unions, and service providers have come together to support our Proposed Federal Credit Union. Some of these partners have donated their marketing, legal, and financial expertise, while others have agreed to provide low-cost deposits or operating platforms at significantly reduced rates.
Click HERE to join the coalition.
A full service not-for-profit
financial institution
From no-minimum, no-fee checking accounts and credit-building products to affordable car loans, financial education, and community engagement, we’re here to help you create a path to long-term financial well-being.
Interested in becoming a future member of the proposed new credit union?
