Banking

Catholic Family Federal in Wichita member of new collaborative group

Catholic Family Federal Credit Union’s branch in west Wichita. (May 27, 2016)
Catholic Family Federal Credit Union’s branch in west Wichita. (May 27, 2016) The Wichita Eagle

Catholic Family Federal Credit Union in Wichita is part of a new network of Catholic credit unions in the U.S., according to a news release.

The new organization, called Catholic Credit Unions of America, was announced earlier this month. The goal of the association, according to the release, is to allow member credit unions to share best practice, operations, product design and technology ideas with each other.

Consisting of 11 credit unions, the organization will also provide assistance with compliance issues, and issues related to canon law and the Catholic mission, the release said. The organization will also work to provide assistance in financing Catholic-oriented projects.

“For the first time, Catholic credit unions have a mechanism to combine their lending capacities to help finance Catholic projects of nearly any size,” said Tom Gryp, president of Notre Dame Federal Credit Union, in the release. “Catholic dioceses, parishes and schools will now have more attractive alternatives available when financing their projects. That should translate into meaningful savings for them.”

There are nearly 100 credit unions in the U.S. with some form of Catholic affinity, according to the release. The organization’s founding group of credit unions claims a total of about $1.9 billion in combined assets.

Catholic Family Federal Credit Union is located at 717 N. Socora. For more information about the credit union, call 316-264-9163.

Bryan Horwath: 316-269-6708, @bryan_horwath

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