Large Community Charters Rule the Day

ALEXANDRIA, Va. – Community charter grants of a million of more people, once an exception that needed approval from the full NCUA Board, have become increasingly commonplace in recent months. NCUA reported yesterday it approved a community charter encompassing 2.7 million residents, almost all of Long Island, N.Y., last month, for Island FCU, one of its largest community grants ever. The regulator also approved a charter covering almost two million people in Florida for McCoy FCU. Both charters were routinely approved by the respective NCUA regional offices because similar community grants have already been approved by the NCUA Board. Over the last two months NCUA has also approved a grant of 1.4 million people for North Jersey FCU; of 1.4 million for River City FCU amd of 1.1 million for Bronco FCU.