TEXARKANA, Texas — Red River Employees FCU here has been approved to expand to a community charter.
That conversion will allow the $653 million credit union the right to serve more than 746,000 additional potential members in 24 counties throughout Texas and Arkansas. The CU currently holds a multiple common bond charter through the Rural District qualifier.
According to a statement from Dollar Associates LLC and Dennis Dollar, who works as a consultant with RRFCU, the CU "has demonstrated that, even with some significant changes in recent years, the NCUA field of membership rules can still work for many growth-oriented federal credit unions."
Dollar called the CU "very progressive... with a strategic vision for growth and diversification" that will be well complemented by a community charter.
