Credit Union Will Offer Services to a Low-Income Community
The National Credit Union Administration has granted its first federal charter of 2022, with Share Insurance Fund coverage, to WeDevelopment Federal Credit Union in Kansas City, Mo.
WeDevelopment’s charter became effective July 22, 2022, and the credit union expects to commence operations later this year. The credit union will serve a community with a poverty rate of approximately 30%.
The new credit union will have a low-income designation and will serve people who live, work, or regularly conduct business in, worship, attend school, participate in associations headquartered in, or participate in programs to alleviate poverty or distress in a specified area in Jackson County, Missouri. It will also serve businesses and other legal entities, incorporated and unincorporated organizations located in, or maintaining a facility located within that area.
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