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A small credit union headquartered in York, Penn., received permission to expand its charter, and therefore its field of membership, to an additional three counties in the southern part of the state. This move will give Heritage Valley Federal Credit Union ($115 million in assets, 12,927 members) a giant boost of potential growth by allowing it to market to a population of an additional 635,000 people.
A statement from Heritage Valley on Thursday announced the NCUA granted the approval to increase its charter to Adams, Cumberland and Dauphin County residents who live, work, worship or attend school in any of the three southern Pennsylvania areas.
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"The board and staff of Heritage Valley FCU are excited about the opportunity to serve the residents of Adams, Cumberland and Dauphin counties, as we have done for York County residents for so many years," Mike Gutshall, president/CEO of Heritage Valley, said.
Mike Gutshall Gutshall indicated that the credit union's loan products and banking services will be available to immediate family members, business and organizations in the expanded three-county charter area. Currently, Heritage Valley runs three branches in York County. The credit union did not indicate if it had any plans to open new branches in the three other counties.
Gutshall added, "Heritage Valley's growth is a direct result of our team's desire to not only showcase our outstanding member service, but to also help new members with their banking and borrowing needs every day. This expansion will provide an opportunity to educate even more individuals about the key role credit unions play in the communities we serve."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
