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 if you have any questions or want to help with this effort.

Proposed CU - Working Documents

Business Plan (MS Word) - updated August 11, 2012
Charter Application (pdf) - updated August 11, 2012
Charter Appendices (MS Word) - updated August 11, 2012
CU Standard By-Laws (MS Word) - updated August 11, 2012
Proforma Statements (MS Excel) - updated August 11, 2012
Business Plan numbers (MS Excel) - updated July 22, 2012

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

No-Interest Credit Union (PDF) - updated Nov, 2015
Pledge form for CU's startup expenses and capital (PDF)
Summary and Survey (MS Word) - updated October 11, 2012
Survey (MS Word) - updated October 11, 2012