Faith Cooperative Federal Credit Union

03/05/2022

Little known history. https://www.yahoo.com/video/rise-fall-black-banking-icon-110041489.html

06/14/2021

FCFCU was recently featured in the Dallas Examiner, during an interview with our CVO (Chief Vision Officer) Dr. Frederick D Haynes III. Check it out.

Friendship-West offers credit union services and financial literacy to members in hopes of expanding June 9, 2021 Mollie Belt Featured, Religion 0 Dr. Frederick Haynes, senior pastor of Friendship-West Baptist Church. Screenshot by Selena Seabrooks/The Dallas Examiner   By SELENA SEABROOKS The Dall...

06/12/2021

FCFCU is proud to be a part of another West Wall Street at Friendship West, this Saturday and Sunday. Come out and support several Black-owned businesses. , , ,

04/29/2021

FCFCU supports the testimony of our CVO (Chief Vision Officer) 100%. This practice must stop.

Dallas mega-church Pastor Dr. Frederick Haynes testified Wednesday on a national level and denounced a measure he says favors predatory lenders.

02/22/2021

Good news and a great move by Ariel Investments!
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Ariel Investments announced the launch of Ariel Alternatives and the Project Black initiative. The goal is to scale minority-owned businesses

12/24/2020

A little Black banking history.
We stand on the shoulders of giants.
FCFCU is proud to continue this great legacy.

Reverend William Washington Browne, a former Georgia slave, founded the first-ever black-owned bank in America. The bank, “True Reformers Savings Bank”, was the first black bank in the United States to receive a charter. The name of the bank was derived from the Grand Fountain United Order of Tr...

12/14/2020

FCFCU will continue to do our part to serve as an alternative and fight against discriminatory lending practices. For us, FICO means "Fairness In Credit Opportunity"

A new investigation by finds 20% of banks in Dallas County don't serve the largely minority neighborhoods below Interstate 30 -- with the approval of f...

10/10/2020

A few things that can be done now to create a better future later. , ,

Buy a house and get a 15 year fixed mortgage rather than a 30 year mortgage. Saves a lot of money in interest over the life of the loan. If you must get the 30 year mortgage, verify that there is no prepayment penalty. This gives you the flexibility of paying it off early if you are able. But it also gives you the option of making lower payments when times are tough...

When you start your job, get an HSA account and not FSA and get the high deductible health insurance. It will lower your tax bracket and the money is yours to use. You also earn 40% in most cases after 10k!!!

Never buy a car brand new! I’ve watched Escalades go from 100k (new) to 35k four years later.

Get you an LLC (incorporate your name!!) and run it as an S Corp. Remember Jay-Z quote “I’m not a Businessman I’m a Business Maaaaaaaan....” Let that sink in.

Build business credit! The loans are bigger and the interest rate is lower.

Get a business bank account (in most cases this costs around $500 to start). Some people got two stimulus checks (one from Trump and one from the SBA). Also no fees.

Go to Community College first and transfer into a four year college (unless you have scholarships to help mitigate the costs) as a Junior. School is a power move you must be able to secure the bag. Majors in STEM will always be needed, are in high demand and the skills can directly help the black community.

If you want to support Black People, support Black Business and Black Institutions of Higher Education.

Get life insurance for you (whole life) and your children (term) as soon as they are born (one thing is for sure is we will die..might as well leave your kids or family something extra). The sooner you get it, the cheaper it is. And you can borrow against it to fund certain projects. Also, the ones that pay out dividends are the best! They normally are associated with the market (money market accounts). IUL’s are great!

Get the people in your immediate family to save collectively! If 10 people save $500/month, that’s 60k every year. You could buy 3 starter homes every year and in 4 years all ten of you are home owners. Buy on the same block or neighborhood if you can...this way you control the value of the homes (remember Monopoly!).

We need to promote financial literacy. Building capital and creating equity to create generational wealth. Having financial freedom is everything! This is not being taught in the school curriculums or our education systems! We must do it ourselves!

08/28/2020

This is great news. , ,

The expanded City First Bank, which concentrates on underserved neighborhoods, will be the nation’s largest Black-controlled federally insured commercial lender.

06/18/2020

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Need financing for a vehicle? Want to start a savings account? We (West Wall Street & Dallas Black Chamber of Commerce) would like to spotlight Faith Cooperative Federal Credit Union. Learn more: www.faithcfcu.com

02/17/2020

We offer various loan products for various needs. ,

Don't get caught in high interest payday loans. Join The Faith Cooperative Federal Credit Union. Visit us online at www.faithcfcu.com