Credit Union Formation Fund
A nonprofit loan fund, now being formed, that will lend subordinated debt to newly chartered credit unions. (Working name.)
Role:
Founder and board chair
Category:
Community development lending
Started:
2026
The Credit Union Formation Fund (a working name) is a nonprofit loan fund I'm forming to lend subordinated debt to newly chartered credit unions headquartered in CDFI investment areas. We plan to certify it as a Community Development Financial Institution once it's formed.
A new credit union can't build capital from retained earnings it doesn't have yet. The fund supplies that capital, which gives a young charter time to become self-sustaining.