GRANDVILLE, Mich. First United FCU said it converted to a state charter and was granted a field of membership that encompasses 22 counties with a population of almost 2.6 million people, the latest in a growing number of FOM grants awarded by state regulators amounting to some of the broadest community charters ever awarded.
The $26 million credit union, chartered in 1937 to serve employees of the Leonard Refrigerator Plant, is now authorized to serve all residents of Allegan, Barry, Berrien, Calhoun, Clare, Clinton, Eaton, Gratiot, Ingham, Iona, Isabella, Kalamazoo, Kent, Lake, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana, Osceola, Ottawa and Van Buren counties.
“Our name and membership expansion brings unlimited potential for growth. It also enables us to provide members with more services, greater account access and increased staff expertise,” said Mark Richter, president of what is now known as First United CU.
The expansive FOM grant follows recent approvals for: Plymouth-based Community Financial CU to serve almost 6 million people in 23 Michigan counties; for NuPath Community CU (formerly Wyandotte FCU) to serve 3 million people in Wayne, Monroe, Allegan, Ottawa and Kent counties; and for Preferred CU to serve and 2.5 million people in 28 counties in the western part of the state, from Traverse City to Lansing to the Indiana border.
