The CTAFC Federal Credit Union was established on June 27, 1968, in Chicago, IL. The credit union was established with 8 initial subscribers: Bishop D.R. Bell, Tomie J. Jackson, Rev. Jester Purnell, Elmer Johnson, Otha Davis, Fred L. Porter, Walter Lee and Fred T. Donahue. Each subscriber established the credit union with 1 share which was valued at $5 per share. The field of membership was limited to the members and employees of Christ Temple Apostolic Faith Church in Chicago, Illinois, employees of the credit union, members of their immediate families and organizations of such persons.
The CTAFC Federal Credit Union was established to promote thrift among its members by giving them the opportunity to accumulate their savings to create for them a source of credit for provident purposes. The credit union has been able to help people of small means through a system of cooperative credit to access loans for productive purposes while giving them an opportunity to earn a dividend on their savings.
(Board of Directors 1988)
Our Track Record
Membership
Expansion.
On July 3, 2008, the CTAFC Federal Credit Union expanded its field of membership.
Years of
Service
Members
$1.2M+ Valuation
On July 3, 2008, the CTAFC Federal Credit Union expanded its field of membership. Members of churches belonging to the Illinois State Council of the Pentecostal Churches of the Apostolic Faith, their families and church employees are eligible to become members of the credit union.
The CTAFC Federal Credit Union has been able to thrive because of the dedicated work of its volunteers. For more than 50 years, members of the Christ Temple Apostolic Faith Church have served in the capacity of board of directors, officers, administrators, committee members and office staff to ensure growth and continued service to its members.
Since its inception, the CTAFC Federal Credit Union has issued hundreds of loans, has had over 1000 members, and at its height was valued at $1.2 M.