WILMINGTON, Del. (3/20/12)--A new federal credit union--Stepping Stones Community FCU in Wilmington, Del.--opened Friday.
The credit union was created through a partnership between the Delaware Community Reinvestment Action Council (DCRAC), non-profit organizations, Delaware's financial services industries and Wilmington Community leaders.
U.S. Rep. John Carney and U.S. Sens. Tom Carper and Chris Coons (all D-Del.) Friday joined those organizations to celebrate the grand opening of the credit union.
Stepping Stones FCU's goal is to assist local residents in entering mainstream banking and give them the financial tools to improve their economic situations, the credit union said in a press release.
Membership in the credit union is open to people who live, work, worship, go to school or have an interest in alleviating poverty in Wilmington.
For $5, members can open an account at the credit union and have access to other financial education programs provided by DCRAC.
"Having access to bank services and affordable credit is critical to helping families escape poverty," said Carney, who serves on the House Financial Services Committee. "Part of the challenge is encouraging those in the community to take advantage of the savings and smart money management opportunities that [credit unions] provide."