MIAMI – Tropical Financial CU will learn this week if its application to expand its field-of-membership to include Palm Beach County was approved by the state Division of Banking. Palm Beach County's population is approximately 1.13 million, but the $500-million CU already serves many select employee groups in the county. Tropical Financial already counts Dade and Sarasota counties in its FOM, as well as many select employee groups. Its potential FOM, excluding Palm Beach County, is five million. Next week, the Division of Banking is expected to make its decision on FOM expansion applications filed by Educational Community CU, Jacksonville, and Eastern Financial CU, Miramar. ECCU applied to serve Putnam and Flagler counties, and parts of Duval County. EFCU filed to serve those portions of Miami and Dade counties that the CU doesn't already serve. It already counts Broward County in its FOM.
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