...While 7 More CUs Opt To Leave Federal Charter

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Another seven credit unions exited the federal system for state charters to start the year, the most in two years.

NCUA said it approved the conversions to state charters for the following credit unions in January: New England Financial FCU, New Haven, Conn. ($275 million); Deere Community FCU, Ottumwa, Iowa ($115 million); Capital Power FCU, Sacramento, Calif. ($50 million); Focus One Community FCU, Los Angeles ($75 million); SAFEAmerica FCU, Pleasanton, Calif. ($250 million); Sterlent FCU, Pleasanton, Calif. ($115 million); and Verity FCU, Seattle ($250 million). One tiny credit union, Charleston (S.C.) Postal Cooperative CU, ($1 million), was approved to convert to federal charter.

Ed Roberts can be contacted at robertscuj aol.com

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