The $11 million Citco Federal Credit Union of Sheridan, Wyo., has won NCUA approval to convert to a rural district community charter to serve Sheridan and Johnson counties, according to its consultant, Dollar Associates LLC.
The 1,800-member Citco was founded in 1954 as Sheridan Public Employees FCU, changed its name in 1987 and expanded to include a number of SEGs including public and private organizations over the years.
"Citco is a very progressive credit union with a strategic vision for growth and diversification that they felt would be well complemented with a community charter," said Dennis Dollar of Dollar Associates in Birmingham, Ala.
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"They have demonstrated that, even with some significant changes in recent years, the NCUA field of membership rules can still work for many growth-oriented federal credit unions," said the former NCUA Board chair turned consultant.
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