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*Not an official Credit Union*
Our Timeline
Notable Milestones
Follow our social media platforms to stay up to date with our progress!
Inauguration
January 2024 | Start of the Initiative
Started the initiative with a cohort of 27 students all brought together by adjunct professor Cisco Malpartida Smith.
Establish Departments
January 2024 | Formed Internal Departments
Formed internal departments within the initiative, such as Finance, Legal, HR, Marketing and more. Defined roles and responsibilities, as well as department heads.
Enter HSBPC
Successful Donor Pitch
Won HSBPC
March 2024 | Entered Harriet Stephenson Business Plan Competition
Entered Harriet Stephenson Business Plan Competition (HSBPC), which is a business competition hosted annually by Seattle University. It is an opportunity for small businesses/start-ups to develop their business plans and pitch them in various elimination rounds for the chance to win up to $20,000 for initial capital towards their start-up.
April 2024 | Secured $250,000 Pledge Towards Initial Capital
Our pitch team had the opportunity to create and present a pitch of our initiative to a company and successfully obtained a $250,000 pledge towards initial capital!
This contributes towards our $1 million goal of raised initial capital that will help cover startup costs such as legal processes, marketing/branding and technology solutions.
May 2024 | Won 1st Place at HSBPC
Made it through all rounds of the Harriet Stephenson Business Plan Competition and won grand prize of $20,000!!!
This brought us closer towards our $1 million goal of initial capital!
Start NCUA Charter
June 2024 | Engaged with Retired NCUA Expert to Start Charter Process
Engaged in the process of chartering with a retired National Credit Union Administration (NCUA) expert to learn more about the chartering process, what is required, and commenced the process to charter.
Obtain Non-Profit License
July 2024 | Obtained Non-Profit Business License
Our legal department applied for, and obtained our non-profit business license, so we are now a formal entity.
Student Recruitment
September 2024 | Recruitment Period for Succession
Created and executed a recruitment period to find new students to join our initiative and ensure proper succession.
Succession Plan
September 2024 | Created Succession Plan
Established a structured succession plan to ensure continuity within the initiative, recognizing the high student turnover rate. This plan outlines leadership transitions, mentorship programs, and knowledge transfer strategies to maintain operational stability and long-term success.
Law School Partnership
October 2024 | Established Partnership with SU School of Law
Formed a partnership with Seattle University’s School of Law to engage law students in the initiative. This collaboration provides students with hands-on experience in financial regulations, compliance, and legal aspects of credit unions while supporting the initiative’s development.
Internal Operations
November 2024 | Developed Internal Operations, Policies and Culture
Developed internal operations and organizational structure by establishing key policies, defining roles, and fostering a strong organizational culture. This framework ensures efficiency, accountability, and a cohesive mission-driven environment within the initiative.
Vendor Due Diligence
November 2024 | Due Diligence of Potential Vendors & Contract Negotiations
Conducted due diligence on potential vendors and engaged in contract negotiations led by our IT team. This process ensures we select reliable partners while finalizing engagement and intent letters to support the initiative’s technological and operational needs.
Guest Speakers
CEO Succession
Entered UW Dempsey Competition
November 2024 | Hosting Guest Speakers
Expanded our guest speaker series to include high-level executives, CEOs, brand management experts, and other esteemed professionals. These speakers provide valuable insights and guidance to our students, enhancing their learning experience. We continue to grow this list, with many more speakers planned.
January 2025 | First Student CEO Succession
Marked our first CEO succession, honoring Ana Giordano as the initiative’s inaugural student CEO. Her leadership and dedication were instrumental in establishing a strong foundation and driving rapid growth. We now look forward to Emma Nguyen’s leadership in continuing to advance our mission and impact.
April 2025 | Entered University of Washington's Dempsey Business Plan Competition
Entered Dempsey Business Plan Competition at the University of Washington, which is a business competition hosted annually by UW. It is an opportunity for small businesses/start-ups to develop their business plans and pitch them in various elimination rounds for the chance to win up to $25,000 for initial capital towards their start-up.
Current & Ongoing Projects
April 2025
- Increasing Social Media Prescence
- Planning Strategic Marketing Efforts
- Role Succession
- Creating & Updating Financial Projections and Budgets
- Continuing Engagement Process to Charter
- Developing Board of Directors
- Creating Legal Documents & Processes/Policies
- Developing Organization Culture & Operations
- Launching Beginning Phases of Financial Literacy
Follow our Financial Literacy Instagram for Financial Tips & Information!
Donation/Capital Meter Progress
$277,500 Raised
2024 Start
2025 End
Half Way!
$0
April | $250,000 Pledge
May | $20,000 HSBPC 1st Pl Prize
Other | $7,500
$1,000,000
Next Big Milestones
We aim to become chartered by the middle of 2026!
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A charter for a credit union is the official authorization granted by a regulatory body that allows a credit union to operate legally. It defines the credit union's scope of activities, governance structure, and the specific group or community it is designed to serve.
Charter Credit Union
Fundraising Towards $1 million
We are working to raise $1 million in initial capital, a regulatory requirement designed to ensure financial stability as we establish our credit union.
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This funding serves as a critical safety net, covering operational and startup costs in the event that revenue is not immediately sufficient. It allows us to meet essential expenses, including regulatory compliance, infrastructure development, and early-stage operations, ensuring a strong foundation for long-term success.
Soft Launch & Initial Membership
Once we are officially established, we plan to soft launch initial services and deposit products, with membership limited to student interns and undergraduates for beta testing. During this time, team members will receive training, marketing campaigns will be finalized, and preparations for the grand opening will be made.
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