The Valley Economic Alliance Newsletter September-October 2017 Highlights

The Valley Economic Alliance Newsletter September-October 2017 Highlights

In the News
The Valley Economic Alliance Sponsors Credit Union
By Helen Floersh, San Fernando Valley Business Journal

The northeast San Fernando Valley’s only credit union has been saved from closure by a sponsorship from The Valley Economic Alliance, a nonprofit based in Sherman Oaks.

The Alliance said Tuesday (Sept. 26) that it has committed $50,000 to supporting the operations of the Pacoima Development Federal Credit Union, which serves nearly 2,000 members and has assets of more than $4 million. It was established in 2005 with the mission of providing bank services to underserved San Fernando Valley communities that are often the target of predatory financial institutions, according to the credit union. Membership is open to Pacoima residents and those who “live, work, worship, go to school or own a business in the San Fernando Valley,” the Credit Union said.

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