A Not-for-Profit Financial Institution Developed to Empower our Community

By applying Faith-Based Principles to provide Accessible, Interest-Free Financing.

Your Deposit is Not a Donation.

Your deposit will be used to directly provide interest-free loans to those that are truly in need.

It’s that Simple.

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Our Story

For almost a decade we have been searching for an equitable financing model that would serve the fundamental purposes of a banking institution without exploiting both the depositors and those in need. We aim to disrupt the current banking models by providing an alternative solution that is founded upon faith-based principles. Leaders and community members from both the New Brunswick Islamic Center and the Islamic Society of Central Jersey have championed this vision to create the Maun Federal Credit Union. We pray that this small act of kindness (ma’un – Arabic), will help empower our community and help bring us all closer to fulfilling our faith. We hope that our success will serve as a model for others to embrace. Sincerely, Irfan Galaria MD, MBA Chair, Board of Directors

Strong, Safe and Secure

Maun Federal Credit Union is built on a sound foundation.

We adhere to faith-based principles and our policies and procedures are regularly audited by experts and scholars.

We are closely regulated by the Federal Government.

The National Credit Union Administration (NCUA), a U.S. Government Agency, insures members’ savings up to $250,000.

Our Services

Maun Federal Credit Union plans to incrementally increase services over the next few years.

At present, we offer:
  • Deposit Accounts
  • Accept ACH Deposits and Wire Transfers
  • Remote Check Deposit
  • Online Account Access

Planned additional services:

  • Full-Service Checking Accounts
  • ATM
  • Debit Card
  • Mobile Wallet
  • Online Bill Pay

Our Values

Focusing on Values of Service, Integrity and Community Supports our Mission to make YOU our Top Priority.

We Serve With Compassion

Compassionate service goes beyond knowing your name. It’s understanding and caring about what’s important to you. That’s why we’re dedicated to your overall financial well-being and helping you achieve what you want in life.

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We Put Members First

Members FIRST. As a not-for-profit credit union, we strive to do what’s right for our membership as a whole, so we can bring real value to all of our members. It’s a matter of integrity and simply the right thing to do. So, you can trust that 24/7/365, we are focused on your needs.

We Champion Community

People FIRST: We’re dedicated to fostering the financial health and well-being of the members of the ISCJ and NBIC communities.

Maun FCU Intro Webinar

Step 1 - Getting Started

To Get Started, you need to be a member of the Islamic Society of Central Jersey (ISCJ) or of the New Brunswick Islamic Center (NBIC). If you are not a member, no problem , follow the links below to sign up

Only 1 person in the family needs to be a member of the ISCJ or NBIC for any family member to open an account with the Maun FCU.

Step 2 – Contact US and we will send you the necessary forms and documents to get started.

Please Note: Each account will be charged a $5/month fee. The Maun FCU is a not-for-profit entity and the fees help cover the operational costs so that we may offer interest-free loans.

Explore our expert

About Us

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Ready to get started? It's fast, free and very easy!

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Who we are

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See What Our Existing Customer Says About Us

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Our Dedicated Team Members

Board of Directors

Irfan Galaria - Chairman

Irfan Galaria MD, MBA is a Plastic and Reconstructive Surgeon. He is involved with several not-for-profit organizations that are focused on improving diversity on college campuses and promoting civil rights in America.

Nadeem Baig - Vice Chair

Served as a board member of the Digestive Health Physicians Association. Currently, serving as a board member of New Brunswick Islamic Center

Ahsun Saleem

As Managing Principal with Simplegrid, he overseers all aspects of the organization - strategy, marketing, operations, finance and personnel.

Ahsen Janjua - Treasurer

Ahsen designs comprehensive succession planning strategies to protect economic interests and maintain operational excellence during transition.

Arif Patel - Secretary

Grassroots Civic and Local Community Volunteer with Corporate, Personal Business and Leadership experience for 15+ years.

Supervisory Committee

Mohammed Salyani - Chair

Mohammed is a Principal at a regional accounting firm WilkinGuttenplan which he joined in 2001. Mohammed has been an active member of both ISCJ and NBIC for many years.

Mohamed Shiliwala

Mohamed’s practice focuses on real estate( residential, commercial purchases & sales) and business transactions.

Executive Team

Gulnaz Batliwala - Accounting Committee

Gulnaz works as the Finance Lead of a nationwide corporation, and has been a CPA since 2002. She has also served as an internal auditor at ISCJ.

Tariq Ajaz - Strategy and Operations

Tariq Ajaz is a senior level financial services executive with versatile background in international and domestic banking processes and regulations.

Shomail Malik - Director of Marketing and Outreach

Grassroots local community volunteer with corporate and business leadership for 15 plus years.

We are fortunate to work with great brands

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FAQ

The MFCU is not a charity. It is a not-for-profit banking institution that is developed to empower our community. The MFCU will pool the resources of the community to provide interest-free loans to those in need. The MFCU will adhere to ethical and religious principles
Banks primarily make money in 2 ways: they charge interest, and they invest their deposits in interestbearing accounts. The MFCU does neither. Therefore, the MFCU needs to charge fees to cover its operating expenses. These fees will decrease as more and more individuals use the MFCU.
The Islamic Society of Central Jersey (ISCJ) and the New Brunswick Islamic Center (NBIC) serve as “sponsor” organizations for the MFCU. So, you must be a member of either the ISCJ or the NBIC to join the MFCU. In the future, the MFCU hopes to add additional sponsor organizations so that it may expand its membership base.
Yes, all deposits are insured up to $250,000 per individual. The MFCU is regulated and monitored by the federal government.
The two institutions are very similar in function. However, the key philosophy behind credit unions and banks is different. Banks operate for the aim of generating profits while credit unions are communitybased institutions which run as not-for-profit entities.
There currently is no institution in America that provides a full spectrum of banking services using Islamic principles. The goal is to develop a no-interest, not-for-profit credit union that would provide both basic banking services and a portfolio of loan options (auto, education, home, business) for the members of the community using ethical financing principles.
No one. The MFCU is not owned by investors. It is a not-for-profit entity
The MFCU will be guided by a volunteer Board of Directors. The members (bank account holders) of the MFCU will elect board members. No seat is permanent.
The MFCU will be a full-service banking institution that will provide cutting edge financial services including: checking and savings accounts, online banking services (ex: bill pay, mobile wallet, wire transfers, check deposits, etc.), auto loans, education loans, and home loans. These services will be introduced incrementally as the MFCU gains experience and members.

Get in touch with us.

Have questions about opening an account?

    WALK-IN OFFICE HOURS

    For All Other Times Please Contact US to Schedule an Appointment

    Main Office

    Thursdays: 5 PM – 7 PM

    ISCJ

    1st Fridays of the Month: 1 PM – 3 PM

    NBIC

    3rd Fridays of the Month: 1 PM – 3 PM