A Kentucky credit union appeared to write a new chapter Tuesdayon NCUA vs. state policies on communitycharters.

In the first conversion of its kind in the state in 30 years,the $83 million Autotruck FCU has shed its federal charter and saidit can now take advantage of more lenient field of membershipregulations governing designated “area development districts”within the state.

The move by the Louisville credit union – which three daysbefore Christmas officially changed its name to Autotruck FinancialCU – will give the SEG-based CU expansion muscle to add new membersin Bowling Green, said Huston Reinle, president/CEO.

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