Michigan CUs Stretch The Boundaries OnFOM

Register now

KALAMAZOO, Mich. - (01/31/05) -- State regulators with the Office ofInsurance and Financial Services have approved a request byEducational Employees CU to expand its community charter to addalmost 2.5 million residents in 16 surrounding counties, giving the$240 million credit union what is believed to be the largestcommunity charter for a state credit union. The 500,000 people thecredit union already serves in five local counties give theEducational Community CU a field of membership of about threemillion. The grant comes a month after the OFIS approved a statecharter for USA FCU to serve 2.2 million people on Oakland andMacomb counties.

For reprint and licensing requests for this article, click here.