The Texas Department of Credit Unions has given final approval to allow the $1.3 billion NavyArmy Federal Credit Union to become state chartered.
Wayne Vann, the president/CEO of the Corpus Christi, Texas-based credit union, said the charter change was sought to provide more growth opportunities under the state's rules.
“As a community-chartered federal credit union we are limited. The state charter gives us the chance to seek members in two counties in the Rio Grande Valley where the demographics mirror those of our area,'' he told Credit Union Times on Wednesday.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 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.
