Proposed No-Interest Credit Union
On June 16th, 2012 a committee made up of JIFL management and other JIFL members agreed to start the process to apply for the establishment of
a Credit Union that provides no-interest loans to its members, using the same principles as JIFL's, InshAllah. Please contact JIFL via email notify@jafari-ifl.org
if you have any questions or want to help with this effort.
Proposed CU - Working Documents
Current Status
May 2013 Conditionally approved by the Texas Credit Union Department, pending approval by NCUA
July 2013 Applied to the NCUA for approval
November 2015 NCUA officials met with the CU's board members Nov 10,2015, in Houston, to discuss deposit insurance requirements. This is the final stage of NCUA review process
If you don't have time to review the Business Plan, etc. above please review the PDF presentation below (10 slides). Then, if you want to help with the CU's startup expenses please review the Pledge form below and email your response
to notify@jafari-ifl.org.