Two California credit unions and the Polish National Alliance are the latest to seek thrift charters.
The Chicago-based Alliance is a 100,000-member fraternal benefits organization that promotes the Polish community by selling insurance policies. It has 260,000 policies outstanding, said Christopher T. Nowotarski, a board member who filed the application Dec. 30.
The organization is applying to buy a $22 million-asset branch of Park National Bank in Chicago and convert it to Alliance FSB. The thrift would offer mortgages and deposit products, Mr. Nowotarski said. Those products would be available by mail to the organization's members across the country.
Last year one other fraternal benefits organization, the Aid Association of Lutherans, received a thrift charter, and another, the Lutheran Brotherhood, applied for one.
On Dec. 31 two California credit unions, $180 million-asset Kaiser Permanente Federal Credit Union in Pasadena and $240 million-asset Pacific Trust Federal Credit Union in Chula Vista, applied to convert to thrift charters.