APPEAL Proposed Federal Credit Union

[Rory Thomas]

Hey everybody,

Just wanted to share some information about a project that some might find interesting.

APPEAL Incorporated (www.appealinc.org), a local 501c3 community organization, is working on founding a truly transformative cooperative financial institution.  We are in the process of chartering a federal credit union, the first national Black credit union.  The idea is to provide a safe place for Black people to bank while leveraging capital with the priority of building up Black communities and combatting systemic racism.

So far, we have reserved our name with the NCUA (APPEAL Federal Credit Union), received approval of our field of membership (membership in APPEAL), and recruited 7 subscribers (the vetted individuals the NCUA recognizes as those who will carry out the chartering process).  Our current priority is raising the startup capital (minimum of $300,000) that the NCUA requires.  So far we've raised $100,000 through various fundraising activities and have recently started a crowdfunding campaign to hopefully raise the remainder.

If you are curious, you can find out more about APPEAL at https://appealinc.org and our crowdfunding campaign is on Indiegogo at https://igg.me/at/apfcu .

Feel free to ask me any questions you may have as well.

Rory Thomas

APPEAL Credit Union Planning Co-chair