Bay State Awards First TIPCharter

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BOSTON - (12/10/04) -- The Massachusetts Division ofBanking said Thursday it has approved a request from Graphic ArtsCU to convert to the state's first TIP (tradewide, industrywide orprofessionwide) charter, serving all employees of the printingindustries in New England. The state regulator also approved anapplication from Lowell-based Jeanne D'Arc CU, the state's fifthlargest credit union, to convert from a multiple-group basedcharter to a community base serving more than 2.4 million people inMiddlesex and Essex counties. Also approved was a request fromQuincy Municipal CU to convert to a community charter servingalmost one million people in Norfolk and Plymouth counties andDorchester, and to change its name to Qunicy CU.

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