Court Rules For State CURegulator

HARRISBURG, Pa. - (03/02/06) – A state court Wednesdaydismissed a challenge brought by the bankers to the largest fieldof membership expansions ever approved by the state Department ofBanking. The court’s ruling will allow Freedom CU, inPhiladelphia, and TruMark Financial CU, in Trevose, to move aheadwith serving more than 2.5 million people in Philadelphia, Bucks,Chester, Delaware and Montgomery counties. The FOM grants werechallenged by various banks and banking associations which claimedthe broad community charters did not meet the standards of“well-defined local communities,” as required by stateand federal laws.