Honda FCU Seeks ColderClimates

June 02, 2003, 1:00 a.m. EDT 1 Min Read

TORRANCE, Calif. - (06/02/03) -- Honda FCU hopes to be among thefirst credit unions to take advantage of NCUA's new internationalbranching rules with a planned outlet for Aliston, Ontario, home toone of Honda Motor Corp.'s manufacturing plants. "We'relooking at opening up a branch in Canada and possibly in othercountries, as well," said Honda FCU President James Updike, who hasbeen planning a foreign branch for more than a decade. The $270million credit union has hired former WesCorp FCU President DickJohnson to work with provincial legislators in Ontario on enablinglegislation. "What we want to do is set up an office in Canada thatcan operate just like a Canadian credit union can, with fullservices," Updike told The Credit Union Journal. Credit unionrepresentatives have been discussing the international foray withCanadian authorities, as well as representatives from tradeassociations and credit unions north of the border.

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