Effective Jan. 1, Community Credit Union will change its name to ViewPoint Bank. In a move that was challenged by a group of members and by regulators, before being overturned in a member vote and in the courts, respectively, the credit union has opted to convert to a mutual savings bank charter.
"A credit union can only generate a certain amount of capital, so we were faced with a choice: stop expansion of our products and services and stay a credit union or change our charter and forge ahead. We chose the second option!" CCU said on its website. "Rest assured, we'll still have the heart of a credit union. Only now we can do more, go further and get you where you want to go."
