THE MUSLIM JOURNAL — According to a 2019 report by the Federal Reserve, 22 percent of American adults (63 million) are either unbanked or underbanked. The 6 percent of Americans who are unbanked have no bank account whatsoever and must rely on alternative financial products and services – such as payday loans, check cashing services, money orders and pawnshop loans – to take care of their finances. The 16 percent of Americans who are underbanked have some sort of bank account, but they also rely on alternative financial services.| Graceline Federal Credit Union (Proposed) By M. A. Hameen Abduljaleel, Muslim Journal Reporter, OnPoint Advisors PHILADELPHIA, Penn. – The organizers of Graceline Community Federal Credit Union (proposed) have announced that it has been invited by the National Credit Union Administration’s (NCUA) Office of Credit Union Resources and Expansion (CURE) to proceed to the next steps […]
