In Brief: Pa. CU Files for Record Charter
Freedom Credit Union in Philadelphia has applied to state regulators to convert to a community charter that would encompass almost 6 million residents in Pennsylvania and New Jersey.
It would be the largest interstate field of membership ever granted.
The $225 million-asset credit union serves about 200 groups in the Delaware Valley. It has asked for permission to serve all of Philadelphia, Bucks, Chester, Delaware, and Montgomery counties in Pennsylvania and Gloucester, Camden, and Burlington counties in New Jersey.
An official with the Pennsylvania Department of Banking told The Credit Union Journal that it would accept public comments before deciding whether to approve the application.