Millions of justice-involved people are shut out of mainstream banking, can have their bank accounts suddenly closed, and are credit invisible.

First Step Alliance is committed to addressing systemic discrimination and reducing barriers to accessing affordable banking. We are working on starting a new credit union to provide a financial home for justice-involved individuals and their families. This not-for-profit financial institution will be the first and only of its kind, focusing on the financial needs of community members.

Everyone deserves a second chance. Access to fair and inclusive financial services can help people achieve financial stability, build credit, and create wealth, which also helps reduce recidivism. We need your support to turn this vision into a reality!

In the United States, there are nearly 5,000 credit unions serving over 100 million people. Like banks, credit unions accept deposits, make loans, and provide a safe place to save and borrow money. But unlike banks, credit unions are not-for-profit financial institutions, and aren't driven by making big profits for shareholders. Instead, credit unions are all about people helping people. They provide better service and community support, generally offer lower rates on loans, and are democratically run – every member has one vote.  

​​The Organizing Members of the Proposed Federal Credit Union are experienced financial services professionals and formerly incarcerated community leaders committed to addressing systemic discrimination in accessing affordable financial services. Read more about us HERE.  ​​​

The National Credit Union Administration (NCUA), the government regulator for the credit union industry, has approved our request to move forward with a new charter application for our Proposed Federal Credit Union. First Step Alliance was also approved as a membership association for the new credit union. From government regulators, Congressional members, and the credit union industry, to reentry and other mission-aligned organizations, we have broad support for this groundbreaking new credit union.

We are currently seeking donated capital to cover the NCUA's minimum regulatory capital and other startup costs. Our initial goal is to raise $2-3 million and open the Credit Union's doors in 2027. We estimate this level of funding will support 10,000 members, $20 million in deposits, and thousands of loans to community members within the first three years of operation.