TUCSON, Ariz. – Tucson Federal Credit Union recently announced that it was approved for a community charter.

NCUA granted TFCU's application to convert to a community charter from a multiple common bond credit union April 21, 2006, according to the credit union. These requests have been curtailed lately because of NCUA's moratorium on the ability of community and single-sponsor credit unions to adopt underserved areas, a result of the current legal challenge by the American Bankers Association in Utah.

TFCU's community charter allows the $226.5 million credit union to serve anyone who lives, works, worships, goes to school, has a business, or volunteers in Pima County, including their immediate families and household members.

TFCU opened its doors for business in 1937 to serve the financial needs of Tucson Unified School District's employees and their families. It now has four branches and over 39,000 members.