Credit union for W.S. in planning stage

By Bryan Price and Nick Stutzman
BengalNews Reporters

If you look around the busy streets  of the West Side you will see big name banks, but you won’t see a credit union that is specialized to educate residents and help out the community. West Side Federal Credit Union looks to be that answer. The credit union’s mission is to create affordable financial services by creating a socially responsible community-banking alternative for residents that are unaware there is a better way to bank.

Emma Wright is the West Side FCU project organizer and is aware that this isn’t just a credit union you can put up and make successful.

“The need in the 14213 is great for a low cost financial institution. I think when people realize they won’t have to pay at the corner store to cash their check, they will come to (the credit union),” Wright said.

 Emma Wright, on plans for the credit union:


          In a recent steering meeting for the credit union held by Wright, the aim was to get the foundation started so that the process can begin. The first step is to get the word out about what the credit union is, get response from the community and gauge the residents in a survey. Wright is looking for volunteers to man these sub committees that can help with the research, funding and public relations for the credit union.

The steering committee will essentially identify sponsors, develop an organizing budget, hold a pledge drive, identify officials, and then work on getting the funding needed to open the credit union. Wright estimated that the credit union’s chartering would be about two years away and that it would take almost 18 months to get enough funding needed to open properly.

Sterling Smalley, one of the first subscribers to the credit union, has local ties to the community and is trying to get the word out on why a bank like this is so beneficial to the West Side community.

“Financial education is going to be a huge part of it, just telling people there is an alternative,” Smalley said.

Smalley believes that the mean banking that is occurring right now on the West Side has been a detriment to the residents, and the predatory lenders aren’t helping businesses off the ground. He says the more residents can understand what a credit union is, the quicker they can start saving money.

Pou Ma, owner of Anokha Leewu Enterprises at the West Side Bazaar, was at the proposed steering committee meeting and believes the credit union will be a great idea. She believes that once residents, especially the international community, become educated on finances, the more financial support they can get to start up businesses like hers. She knows those opportunities like the West Side Bazaar is looking for startups with capital. Ma hopes that this credit union can be a motivational avenue to give back and learn to the community that has given so much to her.