ATLANTA — Four more credit unions have received the green light from the Georgia Department of Banking and Finance to expand their fields of membership to include residential group common bonds.
The $7.7 million Three Rivers CU, $9.8 million Members United CU, $587 million LGE Community CU and $87 million Emory Alliance CU were the latest to submit applications, which were approved on June 9, according to the department.
Since January, nearly a dozen Georgia credit unions have applied for residential group common bond expansions. The department requires that credit unions submit a designation of a community, neighborhood or rural and a demonstration of the financial and managerial capacity to serve those areas including a business plan.
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