Credit Union Will Bring Much-Needed Services to the Nepali-American community
ALEXANDRIA, Va. (Aug. 28, 2018) – The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to Everest Federal Credit Union in Jackson Heights, New York.
“The first credit union to serve the Nepalese diaspora, Everest Federal Credit Union is ideally situated to provide affordable financial services to the Nepalese community.” NCUA Chairman J. Mark McWatters said. “I congratulate them on their new charter.”
Everest Federal Credit Union will serve the approximately 15,000 members of the Non Resident Nepalis National Coordination Council of USA. The new credit union will provide members access to much-needed affordable financial services. During its first year of operations, the credit union plans to offer:
- Regular shares
- Share drafts
- Share Certificates
- Unsecured loans
- Share-secured loans
- Auto loans
- Credit card loans
- Money orders
- Cashier’s checks
- Wire transfers
- Electronic banking
Everest Federal Credit Union’s charter became effective August 24, and it is the first NCUA charter this year.
The Non Resident Nepalis National Coordination Council preserves the cultural heritage of the Nepalese community while advocating for the welfare and rights of its members. The Council is part of the Non Resident Nepali Association, which helps Nepalese community organizations and members foster friendship and understanding in the United States.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share
Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of
state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.