CRANSTON, R.I. — Coastway credit union has notified members that its board of directors is considering whether to change its charter to that of a mutual bank.
"During our 88-year history, serving our members has always been the top priority," Bill White, Coastway's president and CEO, told the Providence Business News.
Recommended For You
"This unanimous recommendation by our board reflects that commitment. We are confident that a charter change will have a positive impact on our members, along with the community as a whole," the paper quoted White's statement.
White cited the possibility of expanded growth as a reason to convert the charter. Coastway had $303 million in assets and 8 locations as of end of 2007, according to the CU's Web site (www.coastway.com).
The CU, which claimed on its website to be the fourth longest running credit union in the U.S., was chartered to serve telephone employees in 1920.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
