4 New Charter Expansions

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NCUA board last week approved four more large community charter conversions, including a request from Sunmark FCU, Schenectady, N.Y., to serve 830,000 residents of the four-county New York capital region, including Albany, Rensselaer, Saratoga, and Schenectady counties.

The board also approved community charters for Advanced Financial Services FCU, New Providence, N.J., to cover 550,000 residents of Union County, N.J.; GHS FCU, Binghamton, N.Y., to serve 310,000 residents in Broome, Tioga and Chenango counties; and CSRA FCU, Augusta, Ga., to serve 310,000 in Columbia, Richmond and McDuffie counties.

All of the votes were unanimous, with the exception of the GHS FCU application, where board member Deborah Matz voted against, saying the credit union had not submitted a comprehensive marketing plan to serve all members of the community.

The board also approved technical amendments to its Prompt Corrective Action (PCA) rule and a new guide for setting allowance for loan and lease losses.

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