Search
 

TULIP Blooms a Lot in First Year

OLYMPIA, Wash. - A low-income credit union that took many years to organize and charter has done better than expected in its first year. The $2.3 million Thurston Union of Low Income People, the first new credit union chartered in Washington State in 10 years, began operating with the support...

By Staff Writer | Updated on March 01, 2005

OLYMPIA, Wash. – A low-income credit union that took many years to organize and charter has done better than expected in its first year. The $2.3 million Thurston Union of Low Income People, the first new credit union chartered in Washington State in 10 years, began operating with the support of a local food cooperative. According to the credit union, its membership rolls in its first year of existence grew 12% more than the organizers had anticipated. The credit union had 428 members as of September 31 2004, according to NCUA. “Beating our first-year membership goal is an exciting milestone for us,” said Darlene Morales, TULIP’s CEO. “The community response has been very positive. We’ve laid a great foundation and now need to build on it to reach more people.” Membership is open to any Thurston County resident whose annual gross household income is at or less than 80% of the national median, approximately $35,000. Members of the food co-op are also eligible to become members.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.