Northern Star CU Approved for Expanded Community Charter

PORTSMOUTH, VA. – Northern Star CU chartered in 1929 as Navy Yard CU, was approved by the Virginia Bureau of Financial Institutions of the State Corporation Commission to expand its field of membership to include the independent municipalities of Hampton, Newport News, Norfolk, Virginia Beach, Portsmouth, Chesapeake, and Suffolk. According to the 2003 U.S. Census, the estimated population of the seven municipalities is 1,393,685. Operating as Navy Yard CU, the credit union was first approved for a community charter to serve the City of Portsmouth in February 2001. It changed its name to Northern Star CU in January 2002. Northern Star CU currently has about $102 million in assets and more than 26,000 members.