Northeast Community Federal Credit Union Partners with Prelim to Modernize Member Account Opening and Drive Community Impact

SAN FRANCISCO--(BUSINESS WIRE)--Prelim, a Silicon Valley-based fintech leader renowned for its award-winning omni-channel onboarding solutions, has announced a strategic partnership with Northeast Community Federal Credit Union (NECFCU), a U.S. Treasury-certified Community Development Financial Institution (CDFI) and designated Minority Depository Institution (MDI), to transform and expand its member services platform.

This collaboration will enable NECFCU to enhance its digital infrastructure while staying true to its mission of low-income financial empowerment. Beyond member applications, Prelim is serving as a strategic technology partner, connecting NECFCU with best-in-class solutions that will support the credit union's continued growth across California.

"Since our founding in San Francisco's Chinatown in 1981, we've been committed to meeting our members where they are, whether that's on the bustling streets of the Tenderloin or in the diverse neighborhoods of South Sacramento," said Lily Lo, President and CEO of NECFCU. "Our partnership with Prelim goes beyond technology. They understand our mission and have connected us with partners who share our values of integrity, trust, and innovation for impact. This positions us to serve our communities even more effectively for the next 40 years."

Founded with the purpose of addressing the unmet capital needs of underserved residents in San Francisco's Chinatown, NECFCU began its journey serving immigrant families who were denied bank accounts for earning too little income or having insufficient credit history. Over four decades, NECFCU has grown from humble beginnings into a regional force for financial inclusion, now also operating under the DBA California Alliance Federal Credit Union (CalAlliance) and serving communities throughout California with culturally responsive, accessible financial services in multiple languages, including English, Chinese, Spanish, Korean, Vietnamese, and Tagalog.

The credit union's commitment to community development extends far beyond traditional banking: from providing emergency loans to seniors for medication to offering funeral expense assistance, from supporting small businesses through the pandemic to partnering with community organizations like BeChinatown to revitalize neighborhood infrastructure and safety.

Prelim was selected not only for its best-in-class digital onboarding capabilities but for its role as a true strategic partner. Prelim has facilitated introductions to technology providers across NECFCU's entire operational ecosystem, helping the credit union evaluate and implement solutions that will drive efficiency, enhance member service, and support sustainable growth well into the future.

"NECFCU represents the very best of mission-driven credit union values, and Prelim gives them the tools to compete with digital-first banks and fintechs without sacrificing the personal service their members expect," said Heang Chan, CEO and co-founder of Prelim. "Their 40-year track record of showing up where others won't, breaking down cultural barriers, and turning community challenges into opportunities is exactly the kind of leadership that inspires us. We're honored to support their vision—not just with our platform, but by connecting them with the partners and tools they need to amplify their impact for generations to come."

This partnership reinforces NECFCU's position as an innovative leader in community development finance, proving that technology and deep community roots can work hand-in-hand to create lasting economic opportunity.

ABOUT NORTHEAST COMMUNITY FEDERAL CREDIT UNION

Northeast Community Federal Credit Union (NECFCU), also operating as California Alliance Federal Credit Union (CalAlliance), is a U.S. Treasury-certified Community Development Financial Institution (CDFI) and designated Minority Depository Institution (MDI) founded in 1981. Rooted in San Francisco's Chinatown and now serving communities throughout California, NECFCU is dedicated to low-income financial empowerment through financial stability, economic literacy, small business development, and homeownership. With multilingual services and a grassroots approach to community revitalization, NECFCU partners with public and private sectors to advance economic opportunity for underserved populations. Learn more at www.necfcu.org.

ABOUT PRELIM

Prelim is a Silicon Valley-based fintech company offering an end-to-end account onboarding and servicing platform for financial institutions. Built by banking experts and partially employee-owned, Prelim helps banks and credit unions digitize operations and improve both the customer and employee experience through automation, identity verification, and seamless integration with core banking systems. Learn more at www.prelim.com.