ALEXANDRIA, Va.-NCUA last week gave preliminary approval to the field of membership for a proposed new credit union-Green Energy FCU. The proposal calls for a multiple common bond credit union serving businesses and organizations focused on residential and commercial energy efficiency and renewable energy improvements.

As part of its charter application, Green Energy FCU is also requesting inclusion of an underserved area of approximately 100,000 people in the Allentown, Penn. area within its FOM, as well as designation as a low-income credit union and as a CDFI.

The primary sponsor of the proposed new credit union is Allentown, Penn.-based AFC First Financial Corp., a provider of residential energy-efficiency and renewable energy lending and rebate programs. The company also manages a network of more than 3,000 Approved Contractors who have expressed a "strong interest" in CU. Organization of the proposed CU is being lead by W. Robert Hall of Hall Associates Consulting.

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