Centric Federal Credit Union in Louisiana has received regulatory approval for a major field-of-membership expansion, bringing it into Arkansas.
The $325 million-asset credit union in West Monroe has added 26 parishes and counties in Louisiana and neighboring Arkansas to its membership after the National Credit Union Administration approved the plans.
Before the expansion, Centric's field of membership covered only Ouachita and Lincoln parishes in north Louisiana.
"Centric FCU works earnestly to bring attentive, friendly solutions from start to finish and looks forward to being a great partner to the people in these communities,"
The credit union said the goal of the expansion is to provide a wide array of affordable financial products and services and financial education into the underserved markets.
Centric had net income of $4.7 million in 2022, a 49% decrease compared with a year earlier, according to call report data from the NCUA.
