Community Charters Spread To Scotland

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The U.S. trend toward larger, community charters for credit unions has crossed the pond. Capital Credit Union here has been given the OK to switch to a community charter and serve anyone living or working in this market, including a large rural area in Scotland that has not previously had any credit union services.

The credit union was chartered to serve public service employees. CEO Marlene Shiels said the new FOM is believed to be the largest in Western Europe.

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