The U.S. Women’s Chamber of Commerce is trying a new strategy to increase financing options for women-owned small businesses: It’s starting its own credit union.
The Seed Federal Credit Union is being created in conjunction with the Somerville Municipal Federal Credit Union in Somerville, Massachusetts. It will serve chamber members across the country.
“Our strategic credit union partnership is a game changer for women and all small business,” said Margot Dorfman, CEO of the U.S. Women’s Chamber of Commerce.
“After decades of challenges in securing fair access to capital and being targets of predatory lending practices, women and small business owners are now in a totally new and powerful position as owners and shareholders of a national financial institution.”
For more information about the project, visit www.uswcc.org/seed or call 1-888-418-7922. Minimum deposit to join the credit union is $25.