BLUE BELL, Penn. – State regulators approved an application from Norristown Bell CU to convert from a multiple group credit union to a community charter serving the 800,000 residents of surrounding Montgomery County.
The $48 million credit union was chartered in 1940 to serve employees of Bell Atlantic (now Verizon) and has grown over the years through mergers with Montgomery County Postal CU in 1987 and ABCON CU in 1999.
It had positive net income in the first quarter and each of the last two fiscal years.
