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Lafayette FCU Could Find Life as a Bank Quite Challenging in Competitive D.C. Market

As the $332 million Lafayette Federal Credit Union moves toward the Dec. 16 special meeting that will end the balloting on whether or not it will remain a credit union, there are indications that the institution might find it especially hard going as a bank.

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KENSINGTON, Md. — As the $332 million Lafayette Federal Credit Union moves toward the Dec. 16 special meeting that will end the balloting on whether or not it will remain a credit union, there are indications that the institution might find it especially hard going as a bank.

The primary challenges the credit union-turned-bank will face may be its size and a diminished presence in its market place as it simultaneously stops being a credit union with a majority of federal employee members and instead becomes just another bank in Washington, D.C. making a bid for a very sophisticated and highly-prized customer base.

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