American Samoa's governor says he has signed the permit and necessary paperwork for the Community Investment Corporation or CIC to set up a Credit Union in the Territory.
The new credit union, to be known as the Community Development Credit Union, will fill the gap once the Bank of Hawai'i shuts down local operations on the 15th of March.
Speaking on his radio program, Togiola Tulafono says the new credit union will have branches throughout the territory.
He added one of the best things about this credit union is that it has more than 3,000 financial institution partners throughout the U.S. and this will make it easy for residents, who may be on the mainland, to make a deposit at one of the partner branches.
