NCUA Charters People Trust Community Federal Credit Union

ALEXANDRIA, Virginia, Sept. 21 -- The National Credit Union Administration issued the following news release on Sept. 20, 2022:

The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to People Trust Community Federal Credit Union in North Little Rock, Arkansas.

"People Trust is aptly named. After all, it is by shared trust, commitment, and investment that credit unions pool resources to create stronger communities," NCUA Chairman Todd M. Harper said. "This new credit union will open doors in central Arkansas to basic financial services like checking accounts for low- and moderate-income households. In the years ahead, we look forward to seeing how People Trust will assist its members in building more secure financial futures with safe, fair, and affordable financial products and services."

The credit union is sponsored by the People Trust Community Loan Fund, a non-profit Community Development Financial Institution that offers certain loan products to low- and moderate-income communities in Arkansas.

People Trust Community Federal Credit Union will primarily serve people who live, work, worship, or attend school in Pulaski and Saline counties in central Arkansas, and the credit union will be headquartered at 4103 East Broadway Street in North Little Rock. It will provide deposit-related products and services the CDFI cannot provide, as well as consumer loans. During its first year of operations, People Trust Community Federal Credit Union will focus on basic savings and lending services, including:

* Share accounts

* Share draft accounts

* Share certificates

* New and used auto loans

* Unsecured loans

* Direct deposit

* Online access

* Debit and credit cards

* ATM access

People Trust Community Federal Credit Union's charter became effective September 16, 2022, and the credit union expects to commence operations in early 2023. The credit union is the second federal credit union chartered in 2022.

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Original text here: https://www.ncua.gov/newsroom/press-release/2022/ncua-charters-people-trust-community-federal-credit-union