ALEXANDRIA, Va. - NCUA's Region III office approved a very largecommunity expansion for Coastline Federal Credit Union inJacksonville, Fla. in May.

The field of membership covers Baker, Clay, Duval, Nassau, orSt. Johns Counties, and, despite a population of over 1.2 million,the matter did not come before the NCUA Board because the board hadapproved the same community in November 2005 for JAX Federal CreditUnion. The $131 million Coastline already has 792,200 members,accord- ing to NCUA.

In total, NCUA approved three community expansions adding 1.8million potential members in May and five community charterstotaling 1.4 million potential members. Of the community charters,the largest was for Shelby County Employees Federal Credit Union inMemphis, Tenn., which converted to cover an area of nearly onemillion potential members.

Multiple common bond credit unions are still adoptingunderserved areas even with the regulatory changes and remaininguncertainty in the courts, but at a much slower clip. Six creditunions adopted eight underserved areas for a total of 399,977potential members in May 2006. However, this was nothing comparedto May 2005-before the American Bankers Association lawsuit-when 25areas were adopted by 21 credit unions adding nearly four millionpotential members.

Southeast Financial out of Nashville adopted three underservedareas in Mississippi and Tennessee for over 60,000 potentialmembers.

A small credit union, $876,439 United Workers Credit Union,converted from state to federal charter in May in spite of therecent FOM changes. Additionally, $14 million Community CreditUnion in Huntington, Ind. converted from American Share Insuranceto a federal credit union with federal insurance. Mid-TownCommunity Development Federal Credit Union was also approved to anew federal charter in Houston, Texas.

NCUA also approved $122 million Rocky Mountain Law EnforcementFederal Credit Union in Denver for a TIP charter covering lawenforcement in 18 counties.

May was no exception for the steady merger activity among creditunions with 30 mergers taking place, including 22 merged creditunions under $10 million in assets. There were a couple of largerinstitutions that merged as well in May: $156 million UnifiedPeabody of Massachusetts said it lacked growth and so merged with$383 million RTN Waltham; and $303 million Kemba Financial took in$131 million Core One, both of Columbus, Ohio, for expandedservices. [email protected]