Patelco CU Pries Open Door ToFOM

SAN FRANCISCO - (01/14/03) -- Pioneering Patelco CU has applied tostate regulators with the Department of Financial Institutions toease field of membership (FOM) requirements by allowing members ofits Financial Education Club, eligibility to become credit unionmembers. The FinEd Club, for financial education,,which provides financial literacy training, is not restricted tocredit union members, meaning it would effectively introduce openmembership to the $3 billion credit union. "It has to be approvedby the DFI," Anita Macias, vice president of marketing, told TheCredit Union Journal. Patelco has been operating association forthe past few years, known as the California Association for OlderAmericans, which qualified people for credit union membership andaccepts non-California residents and has no age restrictions."Anyone can join," said Macias.