AUSTELL, Ga.—NCUA has granted a federal charter and National Credit Union Share Insurance Fund coverage to Soul Community Federal Credit Union here.
The CU plans to open its doors in early 2025.
“The organizers of Soul Community Federal Credit Union have sought to make their community a better place by bringing residents of their city greater access to safe, fair, and affordable financial products and services,” NCUA Chairman Todd M. Harper said. “Having a local institution like this one will fill an important need in Austell, a community of modest means that currently lacks access to mainstream financial providers. It’s a source of great satisfaction when the NCUA can help organizers bring their visions of greater financial security to life.”
Soul Community will primarily serve people who live, work, worship, or attend school in the city of Austell, a low-income community. Soul Community will be a low-income-designated credit union and could be eligible, based on its field of membership, for the minority depository institution designation, NCUA said.
Soul Community plans to offer members basic savings and lending services, including:
- Share accounts
- Share draft accounts
- Online banking
- Auto loans
- Personal loans
Soul Community Federal Credit Union’s charter became effective on December 9, 2024, and it is the fourth federal credit union chartered in 2024, NCUA said.