Arlington, VA (March 25, 2024) — National Cooperative Bank (NCB), a leading financial institution dedicated to providing banking solutions to cooperatives and socially responsible organizations nationwide, is pleased to announce it provided a $3 million subordinated debt loan to Henrico Federal Credit Union (Henrico FCU).
Chartered in 1967, Henrico FCU is headquartered in Henrico County, Virginia and is a low-income designated credit union with 32,000 members.
The subordinated debt provided by NCB will be used to support the credit union’s growth and expansion of lending and innovative financial programs. Henrico FCU recently established a Financial Empowerment Center geared towards helping low- and moderate-income adult learners achieve financial peace of mind. The credit union has partnered with Henrico County Public Schools to establish a financial empowerment center within their new 48,500 sq-ft adult education center.
“NCB is proud to work with Henrico Federal Credit Union to support their mission of community empowerment by expanding financial resources to their local communities,” stated Ann Fedorchak, NCB Senior Vice President.
Chris Williams, President/CEO of Henrico FCU shared, “Henrico FCU values NCB and their investment in our credit union. Their support will assist the credit union in achieving several key initiatives designed to strengthen local communities and promote financial well-being for all.”
