Trend To Community CharteringSlows
ALEXANDRIA, Va. - (01/17/05) -- The move to convert to communitycharter decelerated last year to its slowest rate in six years,according to NCUA. The number of federal charters converting tocommunity fields of membership fell to just 84 in 2004, down from112 the year before, and the fewest since 1996, the year theSupreme Court struck down NCUA's select groups policy. But the sizeof the community FOMs granted continued to grow, the agency said ina new report on community chartering posted last week. Thatincluded a grant to LA Financial FCU to serve 10 million residentsof Los Angeles County, the biggest FOM grant ever; and separategrants to US Airways FCU (now Clearview FCU) to serve three millionpeople in greater Pittsburgh, Pa.; to US FCU to serve three millionpeople surrounding the Twin Cities in Minnesota; Dallas Telco FCUto serve the 2.2 million people in Dallas County; and High DesertFCU to serve two million people in San Bernardino County,Calif.