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ISLAM Federal Credit Union


 ISLAM Federal Credit Union



With over 38 years of service to the Muslim community, the Islamic Society of Central Florida is committed to building an even stronger community for the future.  ISCF is in the planning stages for sponsoring ISLAM Federal Credit Union, an Islamic based credit union for our community. 

MISSION:  The Mission of ISLAM Federal Credit Union is to promote thrift, create a source of credit for productive purposes and improve financial well-being among members by providing Halal innovative products and quality service built on financial stability and mutual trust.

What is a credit union?  Credit unions are not banks.  They are not-for-profit, member-owned financial cooperatives that provide savings, credit and other financial services to members.  Members share a common bond, in this case Islam, and pool their resources to bring stability and growth to members and the community.  Fees are lower than those charged by banks and with ISLAM Federal Credit Union, your accounts are Shari'a compliant. 

Is my money safe?  Yes! Just like banks, credit unions carry insurance protecting your assets.  Your savings are federally insured to at least $250,000 through the National Credit Union Association (NCUA).

What type of accounts and services are offered at credit unions? ISLAM Credit Union will offer all types of Halal checking and savings accounts, retirement accounts and business accounts. Loans with ISLAM credit union will be Shari'a compliant. In addition, services such as online banking, estate planning and financial planning will be available.

I completed the survey on Islamic banking in May 2013. What happens next?

Thank you to all those who completed the survey on Islamic banking.  We value your input and appreciate you helping to shape the future of our community.  We are pleased that the community desires this service and are working hard to make it a reality.  We are currently seeking approval of our field of membership and then will continue with the charter process to form ISLAM Federal Credit Union.  We will keep the community updated regularly throughout the process.





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