Low Income Communities Broaden CUMarkets

ALXANDRIA, Va. - (09/20/04) -- NCUA said it approved an applicationfrom Xerox FCU last month to serve almost half-million residents ofthe San Jose, Calif., area by adding several low-income communitiesof its field of membership. The $750 million El Segundo,Calif.-based multiple group credit union has been carefullyexpanding into what amounts to a community charter by addinglow-income communities in Rochester, N.Y., an in Illinois andTexas, and other markets where it has branch offices, over the pasttwo years. Several other multiple group credit unions receivedlarge low-income expansions last month, including Transtar FCU(formerly Transco FCU), Houston, to serve 160,000 in Houston;Greater Texas FCU, Austin, 215,000 people in the Austin area; andAir Academy FCU, Colorado Springs, Colo., to serve 160,000residents in certain areas of Colorado Springs.