Arlington, VA (July 13, 2023) – National Cooperative Bank (NCB), a leading financial institution dedicated to providing banking solutions to cooperatives and socially responsible organizations nationwide, is pleased to announce a $5 million subordinated debt loan to Listerhill Credit Union.
Chartered in 1952, Listerhill is a low-income designated credit union, headquartered in Muscle Shoals, Alabama and currently serves 92,000 members across 17 locations in Alabama and Tennessee.
The subordinated debt provided by NCB will be used to support Listerhill’s expansion of lending and innovative financial programs to empower members of all income levels in the communities it serves.
“NCB is proud to work with Listerhill Credit Union to support their mission of community empowerment by expanding financial resources to their local communities,” stated Ann Fedorchak, NCB Senior Vice President.
“We sincerely appreciate NCB’s support in our subordinated debt issuance for the purpose of secondary capital on our balance sheet. The increase in our net worth will facilitate expansion of deposit and lending services to so many existing and potential members in our field of membership,” stated Brad Green, President/CEO of Listerhill Credit Union.