WICHITA, Kan. — The expected passage of the bank-sponsored field of membership bill, now before the Kansas House, has economic ramifications for a tornado-ravaged Kansas town, opponents of the legislation pointed out Friday.
"I think Greensburg is an example of what we've been forced to do because of how this bill is written," said James Holt, president/CEO of the $125 million Mid American Credit Union of Wichita.
Mid American, through its Pratt office, now subject to being shuttered, has provided the only credit union service to Greensburg (pop. 1,500) which in May 2007 was flattened by a Category 5 twister that killed 13, injured 60 and whose plight received national media coverage.
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"We actually had an office in Greensburg but it was destroyed and so we ended up servicing those who stayed to rebuild through our Pratt office," explained Holt. Now, however, because of the FOM bill's language calling for branch rollbacks in certain counties and in light of economic factors Mid American would be forced to close Pratt as well, said Holt.
Because of the constraints, Mid American has to devote its resources closer to its headquarters rather than try to service a struggling community 125 miles west of Wichita. Holt said this kind of scenario is unfortunate because of the bankers' need to eliminate competitors.
A spokesman for the Kansas Bankers Association countered that Greensburg has banking service from one bank and two branches and "it was brought out during last year's Audit Hearings that it was the credit union that abandoned" the community.
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