In 1952, Greenbelt Federal Credit Union was faced with its greatest challenge. The Public Housing Administration was selling the Greenbelt project and announced that down payments on at least 500 of the homes must be made by the end of the year in order for the resident-formed corporation to buy the project. The Credit Union was swamped with loan applications and its funds were soon exhausted. Additional funds were raised through a campaign for savings and by borrowing from another credit union. The Credit Union is a not-for-profit financial cooperative owned and run by its members. It was formed to provide savings, loans, and other related financial services. The Board of Directors is elected annually by the members at its annual spring membership meeting. If you live, work, volunteer, worship, or attend school in Greenbelt; a member of Greenbelt Consumer Co-op, Inc.; a member of their immediate families or household; organizations of such persons; businesses and other legal entities in Greenbelt, Md; community organizations in Greenbelt, Md; and employees of Doctors Community Hospital, you qualify to join Greenbelt Federal Credit Union.