GALVESTON, Texas – In a case that could have ramifications for the spread of in-school credit union branches, public school trustees were discussing last night whether to charge rent to two credit unions that operate on school property.
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The two credit unions, Galveston School Employees FCU and Island Teachers FCU, have been located on school property for many years and operate there rent-free, with the school district paying maintenance and utility costs.
Credit unions have operated branches inside schools for decades but the practice has been spreading in the past few years, with over 150 in-school branches now being run by credit unions or students on behalf of a credit union.
