RANCHO CUCAMONGA, Calif. – The Abundant Living Family Church, one of
Southern California’s “mega churches,” has applied to state regulators for a credit union charter.
The faith-based credit union would have a low-income designation and serve parishioners and employees of the church.
The new credit union would be the first chartered in California since 2008, and the first new state charter in more than a decade.
In the slowest chartering period in history, there has not been a new credit union chartered in more than a year and fewer than 10 new charters in the last four years. There is at least one other new charter in the works, Green Energy FCU in Allentown, Penn.