ALEXANDRIA, Va. - (06/01/05) -- In one of the broader fields ofmembership ever granted a federal credit union, NCUA announcedTuesday it has approved a new TIP charter for IR FCU to serve allcivilian federal government employees and their family membersthroughout the mid-Atlantic corridor, in metropolitan Washington,D.C., Baltimore and Philadelphia. The TIP charter, for trade,industry or profession, will allow the $200 million credit union,based in the Washington suburb of Lanham, Md., to serve as many asone million people--including 425,000 federal workers and theirfamilies--in 40 counties in Virginia, West Virginia, Maryland,Delaware, New Jersey, Pennsylvania and Washington, D.C. Officialswith the credit union, which is celebrating its 70th anniversarythis year, were excited by the precedent-setting charter. "We'rethrilled beyond words. This allows us to serve a whole new market,"David Bunch, president of IR FCU, told The Credit Union Journal.The credit union was chartered to serve employees of the InternalRevenue Service and currently serves more than 50 select groups, aswell as the IRS. NCUA also approved three other TIP charters, for:Illinois State Police FCU, Springfield, Ill., to serve all policeand related employees in Illinois; Rushmore Electric FCU, RapidCity, S.D., to serve the power industry in South Dakota andWyoming; and Hawaii State FCU, Honolulu, to serve all state andlocal government agencies in Hawaii.
-
A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
4h ago -
The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
5h ago -
In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
6h ago - Yahoo Finance Feed
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
7h ago -
The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
7h ago -
The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
7h ago