Texas Agency Trims Huge FOM Bid

Register now

The state credit union regulator has balked at one of the most expansive field of membership requests ever, approving seven of the 18 counties requested by United Heritage CU in Austin.

As a result, the $340 million credit union, set new standards for community FOM in 1999 when it was approved to serve more than one million residents surrounding the city of Austin, can now add more than 1.5 million residents in Travis, Bastrop, Caldwell, Hays, Smith, Wood, and Williamson counties.

The sprawling 18-county field of membership requested by United Heritage would have covered more than three million residents of the Lone Star State.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER