The $653 million Red River Employees Federal Credit Union inTexarkana, Texas, has won approval for a community charter thatgives it the right to serve 746,618 potential members in Texas andArkansas, its consultant says.
|The NCUA granted approval to the 67,700-member Red River to change from a multiple common bond credit union toa community charter through the Rural District qualifier, saidDollar Associates in Birmingham, Ala.
|“Red River is a very progressive credit union with astrategic vision for growth and diversification that they feltwould be well complemented with a community charter,” said Dennis Dollar, former NCUA chairman and principalpartner.
|“They have demonstrated that, even with some significant changesin recent years, the NCUA field
|of membership rules can still work for many growth-orientedfederal credit unions,” Dollars said last week in his firm'sannouncement.
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