TIP Charter Spreading Through TheStates

July 11, 2005, 1:00 a.m. EDT 1 Min Read

HARRISBURG, Pa. - (07/11/05) -- State regulators said last weekPennsylvania has become the latest state to entertain requests fora TIP charter, allowing credit unions to serve entire trades,industries or professions. The state Department of Banking said ithas received its first application for a TIP charter, from LeeHospital CU, in Johnstown, to serve the healthcare industry inBlair, Columbia and Somerset counties. Three other states,Massachusetts, Connecticut and Minnesota, have granted TIPcharters, first developed by NCUA for federal charters two yearsago.

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