WICHITA, Kan. – A bill restricting expansion for community chartered credit unions was signed into law by Gov. Kathleen Sebelius on Friday.
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The bill restricts community charters to one of the state’s three major metropolitan areas – Kansas City, Wichita or Topeka – and stops them from expanding beyond adjoining populations of one million.
The new law applies to Kansas’ 60 state chartered credit unions, but only has an immediate impact on nine credit unions, including the state’s three largest: Boeing Wichita CU, Mid American CU and Medical Community CU.
It does not affect the state’s 24 federal charters.
