USA FCU To Shed FederalCharter

TROY, Mich. - (10/01/04) -- USA FCU has applied to stateregulators to convert to a state charter that would encompass morethan 2.2 million residents in Oakland and Macomb counties andseveral other communities where it currently serves, which would bethe largest conversion ever to state charter here. The proposedcharter switch of the $650 million credit union would also be thefirst in Michigan in more than six years. Under new state rules,the credit union would be required to give up the more than 150select groups it currently serves in order to serve the newcommunity base.