Everest Federal Credit Union launches Mount Everest ATM card in the US

An ATM card featuring Mount Everest has been launched in the United States. Everest Federal Credit Union (EFCU), the only Nepali financial institution in the U.S., introduced the card on August 9.

The card, linked with Mastercard, can be used worldwide. EFCU CEO Suman Timsina said all EFCU members are eligible to get the card.

To operate in the U.S., any financial institution must register with the National Credit Union Administration (NCUA). EFCU began the registration process in 2015 and was officially registered in 2018, becoming the only Nepali financial institution registered with NCUA that year. Accounts can be opened with $25, and membership requires $250.

EFCU offers “fast loans” of up to $3,000 for Nepali students in the U.S., benefiting those who have completed at least one year of study with a minimum GPA of 3.0. The institution also provides consumer loans up to $15,000 and, since last June, loans up to $100,000 for home purchase or business purposes.

Only individuals with legal residency in the U.S. can open accounts, and EFCU currently has 2,100 members nationwide.