First Nationwide Grocery TIP Charter Approved
BOISE, Idaho -- Some grocery and supermarket employees have become eligible for credit union membership after the NCUA approved the first Trade, Industry or Profession field of membership for a grocery and supermarket industry across the U.S.
The agency granted the charter in response to an application from the $211 million TruGrocer Federal Credit Union. The Boise-headquartered CU got its start in 1965 when it was founded with the help of the Albertson's grocery store chain. The CU changed its name to TruGrocer in 2006
Sources familiar with the application praised the CU for doing the work that allowed NCUA to approve a much defined field of membership within the grocery store industry, an industry that has broadened significantly over the year. For example, the TIP charter would not cover the employees of big box stores, even if the big box stores carry groceries now. Nor would it cover pharmacists who might work in a pharmacy on the premises of a grocery store.