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NCUA Charter Approval

August 26, 2010, Alexandria, Va. – The National Credit Union Administration (NCUA) today
approved the charter for Shepherd’s Federal Credit Union, located in Charlotte, N.C. The credit
union was chartered to serve the approximately 1,400 members and employees of Unity, the
Way of Holiness Christian Church in Charlotte.
Based on its field of membership, NCUA granted the new credit union a low-income
designation.
“Shepherd’s Federal Credit Union will offer hands-on help and long-term hope to a group that is
striving to build a more prosperous community,” NCUA Chairman Debbie Matz said. “With
their low-income designation, the credit union will have opportunities to participate in special
NCUA programs – including valuable technical assistance grants and low-cost loans to provide
needed services and stimulate economic activities.”
Shepherd’s FCU expects to open its doors in September 2010. Initially, the credit union plans to
offer regular shares, unsecured loans, and used vehicle loans. Planned future services include
share certificates of deposit, new auto loans, check cashing, and an informational website.
The credit union is sponsored by the Neighborhood Church Coalition located in Charlotte. The
Neighborhood Church Coalition is a nonprofit organization which provides organizational
support to help churches become successful, especially those located in impoverished
neighborhoods.
Shepherd’s Federal Credit Union is the third new federal credit union chartered in 2010.
The National Credit Union Administration is the independent federal agency that regulates,
charters and supervises federal credit unions. With the backing of the full faith and credit of the
U.S. government, NCUA operates and manages the National Credit Union Share Insurance
National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
www.ncua.gov
Media Contact: NCUA Office of
Public & Congressional Affairs
Phone: (703) 518-6330
Email: pacamail@ncua.gov
Fund, insuring the deposits of over 90 million account holders in all federal credit unions and
the overwhelming majority of state-chartered credit unions.

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