NCUA Clears Community Charter For Hawaiian Island Of Oahu

ALEXANDRIA, Va. – NCUA reported this morning it approved a request from Hawaii Central FCU to serve the one million residents on the island of Oahu, the fourth credit union cleared to serve all of metro Honolulu.

The community charter granted the $155 million credit union is one of the biggest approved by NCUA in the last three years.

NCUA also approved additional mergers for some of the biggest credit unions:

• $5.4 billion America First CU in Utah was approved to acquire $63 million Moapa Valley FCU;

• $1.2 billion Bayport FCU in Newport News, Va., was approved to acquire $50 million MembersTrust FCU in Virginia Beach;

• $1.3 million Baltimore Municipal Employees’ CU was cleared to merge $3 million Mercy Health Services FCU.

• $1.3 billion Navigant CU in Rhode Island was okayed to merge $1 million Carol Wire & Cable Co. Employees FCU.

Also, Ohio’s PowerCo CU was cleared to acquire two local credit unions in a rare three-way merger , Members First FCU and Western CU, creating a $200 million Columbuis credit union.

NCUA also said several more troubled credit unions are being merged out: Medical Area FCU, Brookline, Mass. ($74 million) Pacific Rails FCU in Utah ($22 million); The Greater Norwalk (Conn.) Area FCU ($23 million); Branch 825 NALC FCU, Oak Brook, Ill.; and Norman Mathis FCU in Houston.