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New Horizon CU waiting for word on one of largest FOM expansions in state

MANASSAS, Va. - New Horizon Credit Union has filed an application with the state Bureau of Financial Institutions for a community charter and, under separate application, a request to expand its field-of-membership from a potential membership of 7,100 to more than 430,000. New Horizon's FOM currently includes employees of the...

By Staff Writer | Updated on August 14, 2001

MANASSAS, Va. – New Horizon Credit Union has filed an application with the state Bureau of Financial Institutions for a community charter and, under separate application, a request to expand its field-of-membership from a potential membership of 7,100 to more than 430,000. New Horizon’s FOM currently includes employees of the former GTE Corp. and about 10 select employee groups. Since GTE Corp. was purchased by Verizon, New Horizon Vice President Debby Miller said, “That left us with no field-of-membership. Our decision to apply for a community charter and expand our field-of-membership was a matter of survival.” New Horizon currently has about 5,000 members and $26 million in assets.

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