WASHINGTON – NCUA yesterday said it approved a request by CommonwealthOne FCU to serve the entire city of Washington as an underserved community, the second credit union granted that field of membership in the last two months and seventh overall.
The other credit unions approved to serve the entire city of Washington are: DVA FCU, Lafayette FCU, Agriculture FCU, Treasury Department FCU, Department of Commerce FCU and Library of Congress FCU.
The 600,000 residents of the Capital City, which has pockets that are among the wealthiest enclaves in the world, qualify an underserved community because 80% of the population earns 80% or less of the median national income.
Washington is one of more than a dozen major U.S. cities qualified by NCUA as underserved, including San Francisco, Philadelphia, Pittsburgh, Baltimore, Richmond, Houston, Miami, Phoenix, St. Paul-Minneapolis, Tucson, Lansing, Mich., Canton, Ohio and Wilmington, Del.
