MONTGOMERY, Ala. – A new state-chartered community development credit union here is one step closer to opening its doors, after NCUA’s Office of Consumer Protection approved Gateway Credit Union for federal deposit insurance.
Gateway is the first low-income CU chartered in Alabama in 2012. It will serve potential members in Montgomery, Elmore, Autauga, Lowndes, Dallas, Perry or Wilcox counties, approximately 437,000 residents. It plans to open in December 2012.
The credit union initially plans to offer regular shares, unsecured loans, short-term consumer loans, share secured loans and auto loans.