Nigerian community in United States to establish a community bank that would serve the interest of the Nigerians in that country and those at home.
The News Agency of Nigeria (NAN) reports that the proposed bank – Nigeria Federal Credit Union – is being promoted by the Nigeria National Association, a non-profit organisation in the U.S.
The credit union, when fully established, would be a full-fledged financial, banking, and investment initiative, in service for all, especially Nigerians resident in the U.S., including members of the Nigerian diplomatic corps.
NAN reports that Credit unions provide banking services nationwide, loans, mortgages, credit cards, checking, mobile banking and more, and many have broader eligibility requirements that include individuals from a location or other broad-ranging characteristics.
The Chairman of the committee, Dr Kazeem Bello, said: “What we are attempting to do is to create a platform for all Nigerians, young and old, men and women, businesses and every Nigerian resident and non-resident in the U.S. to have an opportunity to have a community-based bank that will be tended to our needs.
“We’ve been in a society where opportunities abound all over the place but you only accrue those opportunities when you are a direct member of that community.
“Sometimes, a lot of us (Nigerians) have gone through the pains and hassles of being able to just open a bank account.
“So the project that we are unveiling today is called Federal Credit Union, and by the grace of God, it has been tagged as a proposed Nigerian Federal Credit Union.
“This is a banking and financial institution that we are putting together to be fully chartered and the members are you and I who are Nigerians.
“Nobody is owning this bank; the bank is membership-owned.
“Nigerians own this bank. We call on all Nigerians across the four corners of the United States territory to join in this effort to bring this bank to fruition.”