Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
S.D. CU granted community charter
SIOUX FALLS, S.D. (10/22/09)--Sioux Falls, S.D.-based Bell FCU has been granted a community charter to serve two counties in the state, and is hoping to use its expanded membership to offer more services and better rates. The credit union applied for the charter to ensure future growth, said Darla Erb, Bell FCU president. It also dropped the “Sioux Falls” from its former name--Sioux Falls Bell FCU (Argus Leader Oct. 21). The credit union was created 70 years ago to serve telephone employees. Many credit unions are looking to expand, Jeff Olson, political and public affairs director for the Mid-America Credit Union Association, told the newspaper. For credit unions that serve a closed membership--or a specific company as Bell FCU used to--there is a need to expand because industries and professions have contracted, he said. Credit unions that expand and gain more assets also can provide more member business loans. Credit unions are capped at 12.25% of their assets for business loans, so by having more assets, they can expand their loan portfolio, Olson said. Bell FCU has $29.9 million in assets.


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
9 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
10 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
12 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
14 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
14 hours ago