Tribe FCU completes capitalization to launch as first provisional charter credit union.
The Minneapolis-based credit union will begin digital operations in December after becoming the first to benefit from the NCUA’s new chartering initiative.
Tribe Federal Credit Union, the first credit union in the nation to receive a charter under the National Credit Union Administration’s provisional charter pilot program, has secured a $130,000 subordinated debt loan, completing its initial capitalization and clearing the way to launch operations later this year.
The loan, finalized with the support of Olden Lane Securities LLC as advisor and placement agent, is critical to Tribe’s ability to move forward. Under the terms of the NCUA’s provisional charter — granted on May 22, 2024 — credit unions cannot accept deposits or originate loans until they meet predetermined capital thresholds.
Tribe’s successful fundraising marks a historic first: no newly chartered credit union has previously secured subordinated debt at this stage.
Headquartered in Minneapolis, Tribe’s mission is to address longstanding financial inequities by offering culturally sensitive, accessible financial services to underserved and disenfranchised communities.
“The disenfranchised and minority communities in Minneapolis have distinct financial needs that traditional banking institutions have often failed to meet,” said Headley Williamson, Tribe’s Treasurer and CFO.
The NCUA’s pilot initiative, introduced in 2023, aims to modernize the chartering process by allowing groups to secure a provisional charter before finalizing full capitalization — reversing a longstanding chicken-and-egg challenge that had stymied many prospective institutions.
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“We’re very proud to be involved in this groundbreaking project,” said Olden Lane CEO Michael Macchiarola. “Once again, Olden Lane showed up for the movement — as the people behind the people helping people.”
Tribe plans to launch digitally on December 8, with an in-person grand opening scheduled for Feb. 2, 2026. CEO and Vice Chairman Aris Burnet emphasized the organization’s broader goal: “We believe every community deserves access to fair, transparent, and empowering financial services.”
Another Minnesota de novo – Arise Community Credit Union – was chartered by the state of Minnesota in 2024 and officially launched digitally on June 19.
The NCUA in May handed out the second new federal charter of 2025 to African Diaspora Federal Credit Union in St. Louis, Missouri.
The NCUA chartered only four credit unions last year after three were awarded in 2023, and since 2014 the regulator has only chartered 32 new credit unions.
“By offering low-interest loans, financial literacy programs, and proactive customer support, we aim to empower our members rather than penalize them.”
– Aris Burnet
CEO & Vice Chairman
Tribe FCU
