ALEXANDRIA, Va. - (03/25/05) -- Mainline credit unions continued tosee NCUA's underserved field of membership policy as the bestchance to expand their markets last month. The federal regulatorsaid it approved a request form JSC FCU, in Houston, to serve thecity's entire two million residents under its underserved policy;one of the biggest expansions ever granted under the policy. NCUAalso approved applications from Southeast Financial FCU, Nashville,to serve almost one million people in the Nashville area; fromMOCSE Central Valley FCU, Modesto, Calif., to cover 900,000 peoplein greater Modesto; and from Hiway FCU, St. Paul, Minn., to serve500,000 people in the metropolitan area.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks, with survey respondents expressing heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
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