Launching a federal credit union is a rigorous process that requires regulatory approval, community support, and adequate capital. Here's our current status:
Our community is building something bigger than banking. Every survey completed and every dollar contributed moves us closer to officially launching Razer Technologies Federal Credit Union — a member-owned financial movement created for beauty, grooming, and creative professionals nationwide. Follow our progress and be part of history
We've received preliminary approval from the National Credit Union Administration (NCUA), confirming that our proposal meets initial requirements to move forward.
We need 500 community members to complete our survey to demonstrate need and support. Simultaneously, we're finalizing our organizational bylaws and governance structure.
We're raising $500,000 to $1,000,000 to fund startup costs, including technology infrastructure, compliance requirements, initial operations, and regulatory fees. Capital Progress: Goal: $500K - $1M
Once we complete our survey target and raise sufficient capital, we'll submit our final charter application to the NCUA for review and approval.
Upon receiving our federal charter, we'll begin operations and open membership to beauty industry professionals nationwide.
The credit union charter process typically takes 18-36 months from final application to approval. Our timeline depends on completing our community survey, reaching our capital goals, and NCUA processing times. We're committed to transparency throughout this journey.
We've received preliminary approval from the National Credit Union Administration to pursue our federal credit union charter. This approval confirms that:
