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Yolo Federal Credit Union, headquartered in Woodland, Calif., has served members just west of Sacramento in Yolo County since 1954. On Wednesday, the credit union ($418 million in assets, 21,331 members) announced it received approval from the NCUA to expand its field of membership well beyond Yolo County, adding a potential membership base of more than 2.1 million people.
With help from the credit union consulting firm Dollar Associates, LLC, Yolo worked for nearly five months to secure the FOM expansion to El Dorado, Placer and Sacramento Counties. According to the U.S. Census Bureau, the population of the three counties combined is 2,106,521. This includes the entire Sacramento metro area.
The goal of the FOM expansion into these markets "is to provide a wide array of affordable financial products and services, and financial education resources to all residents, organizations and businesses of the area." Yolo officials said they believe they can positively impact the lives of this new membership base, as well as reach underserved and unbanked people who were not able to join the credit union, until now.
"We are excited and welcome the opportunity to serve residents of El Dorado, Placer and Sacramento Counties," Yolo President/CEO Jenee Rawlings said. "Yolo FCU has been voted the top credit union in Yolo County for 22 years, and we look forward to extending our commitment to service to the greater Sacramento area with this approval."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
