WASHINGTON (5/18/15)--Seneca Nation of Indians FCU (SNI FCU) Friday became the second new federally chartered credit union of 2015.
The National Credit Union Association’s Office of Consumer Protection granted a multiple common-bond charter to SNI FCU to serve employees and members of the Seneca Nation of Indians who qualify for membership in accordance with the nation’s constitution, as well as employees of several other organizations affiliated with the nation.
“Our country’s Native Americans need better access to affordable financial services,” NCUA Board Chair Debbie Matz said. “Seneca Nation of Indians FCU is positioned to fulfill this role and to make investments that strengthen communities. The organizers want to provide access to a range of services while encouraging capital to stay local."
Matz also recognized the hard work and commitment that went into creating the credit union.
“The New York Credit Union Association extends its congratulations to Seneca Nation of Indians FCU and their leadership on their new charter,“ said league President/CEO William J. Mellin (The Point May 13). “The association is committed to working closely with the staff and leadership at SNI FCU as the credit union works to develop strategies to help members of the Seneca Nation meet their financial goals.”
Connie S. Scherrer will serve as SNI FCU’s president/CEO, and Debbie Culligan will serve as the credit union’s operations manager.
“I truly believe the Seneca Nation of Indians FCU will be embraced by Senecas, and the services we will be offering will help the Nation as a whole,” said Scherrer.
Stephen Scott, one of the credit union’s organizers, told News Now in December that the group has financial backing from the Seneca Nation.
SNI FCU is the second new credit union chartered in the state this year. In February, NCUA approved a charter request from The Finest FCU, a New York City-based credit union that serves police officers, corrections officers and their families.
The Finest FCU opened in New York City last week.