GRAND PRAIRIE, Texas - Less than one month after it was approved to convert from a federal to a state charter, Vought Heritage CU plans to file an application with the state Department of Credit Union for a community charter. Jim Gray, president/CEO of the $316 million VHCU said the credit union's board will vote on May 18 whether to file the application and expects to send the application on to Credit Union Commissioner Harold Feeney on May 25. VHCU counts among 300 select employee groups among its nearly 53,000 members. It has four locations among three counties - Terrant, Dallas and Henderson. Gray said having a community charter will allow the credit union to expand its field-of-membership into Grand Prairie and Arlington counties. If VHCU's community charter application is approved, the credit union's field-of-membership will overlap with the FOM of five other community chartered CUs - Dallas Postal CU; Dallas Teachers CU; Community CU, Plano; Security One FCU, Arlington; Arlington FCU. Gray said he does not foresee the overlap as being a problem. The five CUs' FOM already overlap, so Gray said VHCU would just be one more CU in the mix. -
ekingoff@cutimes.com
