Charter issued for Ohio’s newest CU

It’s official: Ohio has a new state-chartered credit union -- Nueva Esperanza (New Hope) Community Credit Union in Toledo. The Ohio Division of Financial Institutions has issued the state charter, conditioned upon attaining share insurance and bond coverage, both of which are in process with the National Credit Union Administration and CUNA Mutual Group, respectively.

Founding Nueva Esperanza Community CU “has been a long and tedious process, and [the incorporators, VIVA South Toledo Community Development Corporation, and leaders of the Latino community] are to be commended for seeing it through,” said Barry Shaner, CEO of Directions CU, who played an instrumental role in making the new credit union a reality. “It has been many years since a new credit union charter has been granted in Ohio, and what you have accomplished is a very rare feat in today’s world. I know I speak for all the credit unions in Ohio when I say ‘Welcome! We are anxious to help you in your next steps, and can hardly wait to see the good things you will do for your community.’”

Congratulations to incorporators Jose Balderas, Karla Hayes, Adam Martinez, Dennis Pyle, Lourdes Santiago, Jessica Santibanez, and Hernan Vasquez and Statutory Agent Celso Rodriguez.

The credit union will move into its newly-renovated facility, a former library outfitted with furniture and fixtures donated by several credit unions across the state, later this month, and a soft opening is anticipated this summer.