New York Episcopal FCU is now the third federal credit union chartered in 2022, with operations expected to begin in early 2023. The NCUA granted a federal charter to New York Episcopal FCU, effective Nov. 7.

New York Episcopal FCU will serve members, parishioners, students and employees of the Episcopal Diocese of New York, including churches, schools, and recognized charitable organizations under the management, control, or sponsorship of the diocese or its parishes. The credit union will focus on meeting the needs of low- and moderate-income members and providing financial education.

“The creation of New York Episcopal Federal Credit Union means members, especially those of modest means, will now have greater access to safe, fair, and affordable financial products and services,” said Todd Harper, NCUA chairman. “Faith-based credit unions play a vital role in supporting their communities, and this new credit union continues that tradition. Through financial education and savings products, the organizers of New York Episcopal will put their members on a path to financial security and success. I commend the credit union’s sponsors for making their vision a reality.”

The credit union will be headquartered in the Bronx with an additional office in New York City.