The Office of Thrift Supervision has approved a bid by Affiliated Federal Credit Union to become a federal mutual thrift, according to an Oct. 3 order.

The Hurst, Tex., institution filed the application in May after a federal judge barred occupation-based federal credit unions from accepting new groups of members. An appeal was heard by the Supreme Court Monday.

Affiliated Federal is the second credit union to be granted a thrift charter since the court ruling; BUCS Federal Credit Union won approval Sept. 23. Three other charter applications filed by credit unions are pending at the OTS.

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