CINCINNATI – General Electric Evendale Employees FCU was approved by NCUA to convert to a state charter to enable it to serve five surrounding counties, the federal regulator reported yesterday.
The $750 million credit union currently serves General Electric employees and about 300 select groups. "The bottom line is, this gives us a level playing field with other state charters," Patrick Taylor, president of the credit union, told The Credit Union Journal yesterday.
Also getting the go-ahead to switch to state charters was Max FCU, a $700 million credit union in Montgomery, Ala., and Emory FCU, a $90 million credit union in Decatur, Ga.
Meantime, three state charters were approved to convert to federal charters: Lihue CU, a $60 million credit union in Lihue, Hawaii, 1st Choice CU, a $65 million Lincoln, Neb., credit union, and Covenant Health CU, $35 million, in Knoxville, Tenn.
