Our team will provide further information and, in many instances, will send an expert organizer to talk with your group and answer questions. If your group is interested and committed, the organizer will assist you with determining your eligibility, your field of membership, proper equipment, office space, financial capacity, the best financial products and a business/marketing plan.  You will be well prepared when it comes time to completing and submitting your credit union application.  Don’t worry with the proper guidance and our expert experience, taking the following steps below to start your credit union will be make much easier than you think.

 

 

Several Key Questions You Need To Ask Yourself

 

 

• Is this financial institution needed?

• Can it be successful over the long term?

• Is there a dedicated and competent management team in place to run the credit union?

• Do you have necessary capital and funding (subsidies) to cover both the pre and post chartering costs?

•  

 

Much Hard Work And Dedication on The Part Of The Organizers

 

 

A new credit union must:

• Demonstrate economic feasibility or viability of the project

• Detail budgeting throughout the process

• Competent and dedicated management

• Adequate level of start-up capital

 

 

Getting Started

 

Success depends on:

• Fitness and character of management

• Depth of membership support

• Adequate level of capital and start-up funds

• Present and future economic conditions.

• Thorough completion of the application requesting to start a credit union.

 

 

Cost of Getting Starting

 

Three levels of starting

• Basic Service with limited services ($150,000 - $180,000)

• Full Service  with limited services and more ($175,000 - $250,000)

• Affiliated/Mentoring Service (90,000- $150,000)