MONTPELIER, Va. – State regulators approved their first statewide field of membership, for Vermont State Employees CU.
Processing Content
Previously, the credit union served residents of seven counties and state employees statewide.
"This development is especially significant as consumers try to make sense of the bailouts, investment decisions and shortcomings in the country's banking system," said Steven Post, president of the state’s second largest credit union. "The acquisition and merging of regional and state banks also have left Vermonters with less consumer choice and the loss of local control and servicing,"
The credit union has $480 million in assets and trails only $740 million New England FCU as the state’s largest.
