SAN ANTONIO — San Antonio City Employees Federal Credit Union recently announced that it had been approved by NCUA for a community charter to serve the 1.5 million residents of Bexar County, Texas.
"This move will allow SACEFCU to grow membership, and to expand our positive influence and presence in the community," President and CEO Tim F. Haegelin stated. "It will also help potential members avoid confusion about who can join."
NCUA Public and Congressional Affairs Director John McKechnie explained that despite the large population of the area, it is a single political jurisdiction so the credit union did not have to provide proof of a "community." However, NCUA did study the business and marketing plans included in the request and determined that the credit union has "the ability and intent to serve the entire community."
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The community charter conversion was approved by NCUA on Aug. 7 and ratified by the SACEFCU Board Aug. 21. Prior to conversion, the credit union had several select employee groups and investment areas.
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