Bid Would Set New FOM Standard InVirginia

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RICHMOND, Va. - (09/14/04) -- Tidewater Telephone Employees CU hasapplied to state regulators to convert to a community charter whichwould encompass more than 1.1 million people in the Virginia Beacharea, which would be the first field of membership in Virginia toexceed the one million mark. The proposed FOM would include thecities of Virginia Beach, Suffolk, Chesapeake, Portsmouth, Norfolk,Newport News and Hampton. The $35 million credit union currentlyserves a multiple group FOM. If approved, the community charterwould encompass more than twice as many people as any other evergranted by state regulators.

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