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FCUs add underserved areas in record numbers

ALEXANDRIA, Va.-Federal credit unions this year expanded service to underserved areas at an unprecedented rate. An additional 12.5 million potential new credit union members were added as of November 30, 2001. NCUA Chairman Dennis Dollar credited the significant increase to the agency's streamlined application process for expanding into underserved communities....

By Staff Writer | Updated on December 18, 2001

ALEXANDRIA, Va.-Federal credit unions this year expanded service to underserved areas at an unprecedented rate. An additional 12.5 million potential new credit union members were added as of November 30, 2001. NCUA Chairman Dennis Dollar credited the significant increase to the agency’s streamlined application process for expanding into underserved communities. In all, 231 communities were adopted in 2001. Only 50 investment areas were added in all of 2000 with a population of 2.3 million.

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