Georgia CU Gets New Power From NCUA

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Georgia Power FCU, the multiple group credit union chiefly sponsored by the sprawling electric utility, was granted approval to serve all employees in the electric power industry in 11 southern states, the first TIP (trade, industry or profession) charter provided for a public utility industry, NCUA said last week.

The TIP charter will allow the $65 million credit union to serve anyone who works in the electric power generating, transmission or distribution business in Georgia, Tennessee, Virginia, Alabama, Arkansas, Florida, North Carolina, South Carolina, Mississippi, Louisiana and Kentucky. It is just the fourth TIP charter granted by NCUA through the first three months of 2005.

Also getting a new TIP from NCUA was HealthNET FCU, a $35 million Memphis, Tenn., credit union. The new TIP will allow HealthNET FCU to serve anyone working in the health care industry in a nine-county region sprawled across Tennessee, Mississippi and Arkansas, and is the sixth Tip granted by NCUA for the health are industry.

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