Board Member Hyland Participates in Ribbon Cutting Ceremony to Commemorate
the Opening of Shared Branch Office
Washington, DC, February 26, 2006-National Credit Union Administration (NCUA) Board Member Gigi Hyland participated in a ribbon cutting ceremony to commemorate the opening of ACCESO, a shared branch office formed by three credit unions from the greater Washington DC area.
Participating in the ceremony with Board Member Hyland included officials from the three credit unions which formed the shared branch office: Carlos Calderon, CEO of OAS Staff FCU, Carla Decker, CEO of District Government Employees FCU, and Bruce Cameron, CEO of IDB/IIC FCU. Also participating in the ceremony were representatives from the District of Columbia’s City Council and Mayor's office.
ACCESO, which means "access" in Spanish will serve the needs of the surrounding community which includes a large Latino population by providing a variety of affordable financial services, including: check cashing and remittances services; insured savings accounts; auto loans; and mortgages. Board Member Hyland addressed those attending the event in both English and fluent Spanish, and congratulated the shared branch office for striving to meet the growing needs of the financially underserved. “As not for profit financial cooperatives, credit unions are consistently helping people from all walks of life and communities to achieve the dream of financial self sufficiency.” Said Board Member Hyland. “I commend these three credit unions and their staff for working together in order to bring a traditionally underserved and immigrant community into the financial mainstream and I encourage more credit unions to follow their example. Today, the dream of financial access has become the reality of financial access for this community.”
The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of nearly 85 million account holders in all federal credit unions and most state-chartered credit unions. NCUA is funded by credit unions, not tax dollars.
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