Two Pennsylvania SCUs Get State's First TIP Charters
HARRISBURG, Pa. - Lee Hospital CU and HVHS CU have joined a small but growing list of state-chartered credit unions around the country that have been approved for a Trade, Industry or Professional charter by their state regulator. Lee Hospital CU, Johnstown, Pa. was approved by Pennsylvania Secretary of Banking William Schenck's office to convert from an occupational-based charter to a TIP charter with a proposed field of membership that includes health care workers in Blair, Cambria and Somerset Counties. In addition, HVHS CU, Sewickley, was approved for a TIP charter to serve healthcare workers in the counties that make up the 2003 Pittsburgh Metropolitan Statistical Area which includes seven counties. Lee Hospital has more than $38 million in assets and approximately 7,200 members. HVHS CU has approximately $20 million in assets and about 3,200 members. Along with Pennsylvania, other states that have approved TIP charters for state-chartered credit unions are Connecticut, Massachusetts and Minnesota.