NCUA Approves Third Quarter Credit Union Charter Expansions

Charter expansion applications were approved for credit unions to reach potential new members, including more than 3.1 million in underserved areas, according to the NCUA’s Third Quarter Merger Activity and Insurance Report released earlier this month.

Credit unions that secured application approval for community charter expansion were:

• $57.2 million, 4,282-member Limestone FCU in Manistique, Mich., potential member increase, 301,396.
• $47.5 million, 6,119-member ALCO FCU in Wellsville, NY., potential member increase, 312,171.
• $671 million, 44,250-member First Heritage FCU in Corning, N.Y., potential member increase, 608,745.
• $99.7 million, 6,632-member Valley 1st Community FCU in Monessen, Pa., potential member increase, 689,458.
• $295 million, 18,660-member Oxford FCU in Mexico, Maine, potential member increase, 978,901.
• $55.8 million, 3,567-member Financial Partners FCU in Woodburn, Ind., potential member increase, 464,484.
• $368 million, 27,112-member Allegiance FCU in Oklahoma City, potential member increase, 1,498,149.
• $39.8 million, 3,074-member Golden Valley FCU in Manteca, Calif., potential member increase, 789,410.
• $265 million, 22,174-member Home Town FCU in Owatonna, Minn., potential member increase, 997,729.
• $276 million, 22,015-member Great Basin FCU in Reno, Nev., potential member increase, 998,216.

Applications for credit unions that got the federal agency’s OK for underserved area charter expansion included:

• $326 million, 28,645-member CorePlus FCU in Norwich, Conn., potential member increase, 74,686.
• $40 million, 5,309-member Veritas FCU in Smyrna, Tenn., potential member increase, 219,459.
• $610 million, 51,784-member Air Force FCU in San Antonio, potential member increase, 186,520.
• $1.9 billion 114,378-member Communication FCU in Oklahoma City, potential member increase, 886,676.
• $695 million, 51,734-member Family Trust FCU in Rockhill, S.C., potential member increase, 1,770,486.

Credit unions that received the NCUA’s approval of multiple common bond expansion charter applications for associational or occupational groups having more than 3,000 potential members were:

• $6.7 billion, 533,183-member Members 1st FCU in Enola, Pa., one occupational in Whitehall, Pa., for a total potential member increase of 4,100.
• $416 million, 26,124-member Garden Savings FCU in Parsippany, N.J., one occupational in Morristown, N.J., for a total potential member increase of 4,776.
• $380 million, 14,475-member Ocean Financial FCU in Oceanside, N.Y., one occupational in Rockville Centre, N.Y., for total potential member increase of 11,512.
• $110 million, 6,285-member First Eagle FCU in Owings Mills, Md., one associational in Sunnyvale, Calif., for a total potential member increase of 122,605.
• $1.9 billion, 97,312-member New England FCU in Williston, Vt., one associational in San Diego, for a potential member increase of 328,095.
• $423 million, 37,700-member Credit Union of New Jersey FCU in Ewing, N.J., one associational in San Diego, for a potential member increase of 337,989.
• $5.9 billion, 451,252-member Tinker Federal Credit Union in Oklahoma City, two associational in Oklahoma City and Wyandotte for a total potential member increase of 6,805.
• $2.4 billion, 174,832-member South Carolina FCU in North Charleston, S.C., two occupational in Florence and Summerville, S.C. for a potential member increase of 9,079.
• $2.1 billion, 111,875-member Advancial FCU in Dallas, one occupational in Dallas for a potential member increase of 4,000.
• $4.1 billion, 292,992-member Unify Financial FCU in Allen, Texas, one occupational in Cypress, Calif., for a potential member increase of 4,165.
• $802 million Midwest America FCU in Fort Wayne, Ind., one occupational for a potential member increase of 11,271.
• $3.9 billion, 249,839-member Founders Credit Union in Lancaster, S.C., one associational in Columbia, and three occupational in Charleston and Columbia for a total member increase of 75,100.
• $576 million, 33,322-member Education First FCU in Beaumont, Texas, one associational in San Diego, for a potential member increase of 337,918.
• $12.6 billion, 804,569-member Security Service FCU in San Antonio, Texas, one associational in San Diego, for a potential member increase of 341,288.
• $4.9 billion, 128,877-member Chevron FCU in Concord, Calif., one occupational in Pleasanton, Calif., for a potential member increase of 3,000.
• $38.8 million,7,038-member Clean Energy FCU in Englewood, Colo., one associational in Smyrna, Ga., for a potential member increase of 3,197.
• $6.4 billion, 267,622-member Kinecta FCU in Manhattan Beach, Calif., one occupational in Fort Lauderdale, Fla., for a potential member increase of 7,000.

According to the NCUA, 160 credit unions got approvals for 2,402 multiple common bond expansions for small associational or occupational groups with less than 3,000 people for a total potential membership increase of 1,768,898.

Credit unions that got the federal agency’s green light for single common bond expansion included:

• $1.5 million, 350-member First Baptist Church of Vienna FCU in Vienna, Va., two associational in Arlington and Gainesville, Va., for a potential member increase of 2,600.
• $12.7 million, 1,331-member Wakefern FCU in Elizabeth, N.J., occupational for a potential member increase of 656.
• $101 million, 6,348-member Kaiperm FCU in Walnut Creek, Calif., occupational in Oakland, Calif., for a potential member increase of 35,136.

Credit unions that received approval for community conversion charters were:

• $87 million, 9,918-member Route 31 FCU in Muskegon, Mich., with a potential member increase of 916,189.
• $61.5 million, 3,832-member Plymouth County Teachers FCU in West Wareham, Mass, with a potential member increase of 530,819.

Credit unions that got the OK to switch from federal charter to state charter included:

• $164 million, 4,721-member Countryside CU in East Syracuse, N.Y.
• $2.7 billion, 149,245-member Arizona Financial CU in Phoenix.
• $734 million, 49,007-member Topline CU in Maple Grove, Minn.
• $366 million, 22,679-member Innovations Credit Union in Panama City, Fla.

The federal agency also approved the $22.7 million Municipal Federal Credit Union in Sioux City, Iowa, to switch from a state charter to a federal charter.