The National Credit Union Administration has approved Services Center Federal Credit Union’s field of membership expansion in its home state and across the Missouri River into Nebraska.
The $70 million-asset CU in Yankton, S.D., said on Wednesday that it can now serve those who live, work and worship in Bon Homme, Yankton, Clay, Douglas, Hutchinson, Turner and Lincoln counties in South Dakota, plus Holt, Knox, Cedar, Wheeler, Antelope, Pierce, Wayne, Boone, Madison, Stanton and Platte counties in Nebraska.
A number of credit unions have recently expanded their fields of membership, including
Stephan Anderson, chairman of Services Center FCU, said the credit union will “continue to focus” on its current members even as it expands to these new geographic areas.
“SCFCU’s commitment to serving our members and communities over the last 57 years, along with the continued growth and success we have built as a financial institution, positioned us for this expansion,” Anderson said in a statement. “We are excited to extend our philosophy toward banking into new communities by providing financial products, services and community involvement to the residents in our newly expanded counties.”
In the first quarter, the credit union earned $71,000, down about 19% from a year earlier, according to its most recent call report. As of March 31, it was well capitalized with a net worth ratio of 8.50%.
