BANKING

Credit Union Charter Approved: Federal regulators unanimously approved a charter for the South-Central Los Angeles Community Development Federal Credit Union, culminating a three-year effort to form a new credit union covering a 50-square-mile area of southern Los Angeles. Organizers of the credit union, who received approval from the board of the National Credit Union Administration, hope that it will open as early as December, offering consumer loans and small-business loans. The credit union was organized principally through the nonprofit Black Employees Assn.