Proposed Federal Credit Union for Returning Citizens
Discrimination in financial services remains a significant barrier for millions of formerly incarcerated 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.
We are committed to changing this narrative by starting a new credit union—a member-owned, not-for-profit financial cooperative—designed to provide a trusted financial home for unbanked 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, helping members achieve sustainable financial independence.
Vision
We envision a world that embraces inclusion, acceptance, second chances 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
A wide range of community organizations, advocacy groups, credit unions, and service providers have come together to support our Proposed Federal Credit Union. Many of these partners have also contributed their marketing, legal, and financial expertise on a pro bono basis, while others will provide essential 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 people create a path to financial well-being.
​
Interested in becoming a future member of the proposed new credit union?
