Huge CU Seeks Conversion To State Charter

May 09, 2000, 1:00 a.m. EDT 1 Min Read

- SACRAMENTO, Calif. (05/09/00) - North Island FCUsaid it has applied to state regulators with the Department ofFinancial Institutions (DFI) to convert to a state charter. With$900 million in assets the San Diego-based credit union would thebiggest ever in this state, and second biggest nationwide (behindBellco First FCU) to convert from federal to state charter. NorthIsland FCU is one of 12 federal credit unions with applicationspending before the DFI to convert to state charter. The others:Marine Air FCU, Alliance FCU, Pacific Bay FCU, USC FCU, RockwellFCU, Matadors FCU, Ventura County FCU, Long Beach Schools FCU,Whittier Area FCU, Water & Power FCU, and American FirstFCU.

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