Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEWPORT NEWS, Va. – Newport Shipbuilding Employees’ CU filed two separate applications with the state Bureau of Financial Institutions on May 19 to expand its field-of-membership to include two underserved areas. In one application, the $792 million credit union applied to expand its FOM to include the contiguous designated “distressed community” known as the “Underserved Hampton Roads Community” which includes census tracts identified as underserved areas. These census tracts are in York County and the Cities of Newport News, Hampton, Norfolk, Virginia Beach, Portsmouth, and Chesapeake. The U.S. Census population of the UHRC is 437,058. In its second application, the credit union asked to expand its FOM to include the contiguous designated “distressed community” within the City of Suffolk. The population of this community is 19,000. Newport Shipbuilding ECU has approximately $792 million in assets and more than 72,000 members.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.